Tom Lee, chairman of BitMine Immersion Technologies, announced at Korea Blockchain Week 2026 that the cryptocurrency market is entering its most significant bull cycle to date. He bases this forecast on Bitcoin trading above its 200-day moving average and consistent institutional inflows observed throughout September.
The market outlook is further supported by the tokenization of assets by major financial institutions like BlackRock and JPMorgan Chase. Additionally, Lee highlights a generational wealth transfer, noting that Americans in their twenties are set to inherit $700 billion this year, which could potentially drive the total crypto market value toward $10 trillion.
BitMine is actively expanding its Ethereum holdings, aiming to secure 5% of the total supply. The company recently added 17,362 ETH to its portfolio, following a purchase of 27,562 ETH the previous week. As of late September, total holdings reached 6,001,302 ETH, valued at approximately $16.06 billion.
The firm currently has 5,067,309 ETH staked, which it identifies as the largest volume held by any single entity globally. Lee expects institutional investors to increase their crypto exposure in the fourth quarter, while BitMine focuses on delivering stock returns that outperform Ethereum itself.
