Tom Lee’s Bullish Ethereum Bet Sends Bitmine Stock Surging 3,000%

Fundstrat’s Tom Lee is “the most bullish thing to happen to Ethereum this year,” opined Ryan Sean Adams, co-founder of Bankless, on Friday.

Bitcoin bull Lee has made some famous predictions about BTC, stating on CNBC in 2017 that it would reach $55,000 when it was trading around $2,000 at the time.

This was at the time when JPMorgan boss Jamie Dimon said he would fire any trader who touched Bitcoin, and billionaire Warren Buffett called it “rat poisoned squared,” observed Adams.

Bitmine Stock to The Moon

Earlier this week, Lee launched a $250 million Ethereum treasury for his company Bitmine. He has effectively become for Ethereum what Michael Saylor is for Bitcoin.

He also went on CNBC and said Ethereum is the next Bitcoin, stablecoins are crypto’s ChatGPT moment, and they make ETH more valuable.

“Underneath the stablecoin industry is Ethereum – that is really the backbone and architecture of stablecoins, so it’s important to create a project that accumulates Ethereum to essentially protect and have some influence on the network.”

The market has already reacted with Bitmine Immersion Technologies stock (BNMR) surging a whopping 2,934% since the announcement, according to Google Finance. The share price topped $140 on Thursday, surging from last week’s closing price of $4.27.

Adams concluded that this is the best thing to happen to Ethereum this year. “You think Wall Street isn’t listening this time? Get ready for FOMO season. ETH is going up,” he said.

Let me tell you why Tom Lee is the most bullish thing to happen to ETH this year.

Tom Lee was the guy in 2017 on CNBC calling for $55k bitcoin when it was trading at $2k.

Wall street people thought he was insane.

I remember the segments.

The anchors would smile and be like… pic.twitter.com/HIkqRVyZ54

— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) July 3, 2025

Meanwhile, DCinvestor admitted to his 265,000 X followers that he did not like Ethereum, but added:

“I have to concede that trillions of dollars in stablecoins coming onchain and every financial institution in the world building on it could indeed be bullish for ETH,”

Analysts and experts are anticipating big moves for ETH prices if the corporate treasury trend continues. Joseph Lubin’s gaming firm, SharpLink, has also raised $425 million to stack and stake Ethereum.

SharpLink Gaming will ring the Nasdaq closing bell on July 7 to celebrate its Ethereum treasury milestone, the firm announced on Thursday.

“We believe Ethereum is integral to the next wave of financial innovation,” stated Joseph Lubin.

ETH Prices Still Sideways

Nevertheless, Ethereum prices are still sideways, with many observers pointing out that it is trading like a stablecoin for lack of movement.

The asset reclaimed $2,600 during late trading on Thursday but couldn’t hold above that level and retreated slightly on Friday morning.

Analyst ‘Merlijn The Trader’ observed that Ethereum had “just nailed the retest” and “bounced perfectly off the breakout zone.”

“This is where the next wave starts,” he predicted. ETH still needs to reclaim and hold the $2,800 level before any further momentum can be measured.