Fundstrat co-founder Tom Lee recently pulled off another bold move - publicly betting that Ethereum will experience an epic pump after its upgrade, with a target price range of $20,000 to $50,000. More hardcore is that his company BitMine directly put their money where their mouth is, purchasing a whopping 96,798 ETH last Monday.

This Wall Street prediction veteran is not just talking nonsense. Look at his track record: when BTC dropped to $6,000 in 2018, the market was filled with despair, but he relied on the miner cost model to determine that this was the bottom and firmly believed it would reach new highs - which eventually came true. At the end of 2022, when the US stock market was plummeting, he insisted on being bullish for 2023, accurately predicting the S&P 500's levels, with a final error margin that was absurdly small. What makes this person most impressive is his courage to go against the tide during panic, and he has succeeded time and again.

So why is he so determined to stick with Ethereum this time? There are three core reasons.

**Upgrade Card** takes the lead. The Fusaka upgrade for ETH is set for December 3rd, and this technical iteration is said to significantly enhance network performance and directly strengthen ecological competitiveness.

**The macroeconomic environment** is also cooperating. The Federal Reserve has a key operational window in December, which could release more liquidity, providing ammunition for risk assets.

**Capital flow** is the most real. BitMine not only swept nearly 100,000 ETH last week but also directly pumped the weekly purchase volume by 39%. This is not just talk; they are genuinely taking action. Now this company holds over 3.72 million Ethereum, plus other crypto assets and cash, with a total valuation of about $12.1 billion. The company clearly stated that they are increasing their investment because they are optimistic about the market in December.

Tom Lee is different from those analysts who only know how to brag; he has his own quantitative model as a foundation, and his historical performance is there for all to see. Now he is voting with real money. Coupled with the upgrades of Ethereum itself and a warming macro environment, this operation might really push ETH to a new level. Of course, the market is always full of uncertainties, but at least from the movement of chips, large funds have already started to take positions.