BitMine bought Ethereum for $44 million amid bullish expectations from Tom Lee.

Source: CritpoTendencia Original Title: BitMine purchased Ethereum for $44 million amid bullish expectations from Tom Lee Original Link: BitMine, the firm dedicated to treasury management on Ethereum, made a new purchase for $44 million. This operation reinforces the management's positive outlook on the future price of the native token of the blockchain. The acquisition coincides with the recent bullish projections from the company's president, Tom Lee.

According to the expert, the price of the asset could reach $7,000 in the short term and exceed $9,000 in 2026. Lee argues that a supercycle of tokenization will generate massive demand for ETH.

In this context, the company led by Lee acquired a lot of 14,618 ETH, according to data from Arkham Intelligence. The purchase, executed through BitGo during Thursday's trading session, has not yet been publicly confirmed by the company.

The operation adds to a recent massive acquisition of $200 million in cryptocurrencies by BitMine. With this, the firm consolidates its position as the largest corporate holder of Ethereum globally.

BitMine considers Ethereum to be the key to financial evolution

BitMine's continuous purchases of ETH are linked to the company's vision of the underlying network. The management believes that the Ethereum blockchain will become the technological layer that drives the transformation of the global financial system.

Tom Lee even describes Ethereum as “the virtual layer of Wall Street.” Under this premise, the demand for the native token could increase significantly, driving a substantial price appreciation. This conviction underpins the ETH-based treasury strategy to capture value in the event of accelerated growth.

At the time of writing, the price of ETH maintains positive figures over the last 24 hours and the past week. This performance allows it to hold above $3,000 per unit, in a context of widespread market recovery after weeks of corrections and liquidations.

Companies like BitMine are expected to continue acquiring ETH in the coming weeks, as long as the market maintains its current pace of recovery. The current price level could be considered attractive as an entry point for portfolios with a higher risk tolerance.