BitMine Immersion Technologies predicts the Ethereum price will reach a lofty five-digit height, citing credible research from multiple firms.
In an X presentation titled “The Alchemy of 5%,” the company revealed its view on the second-largest cryptocurrency. BitMine’s chairman, Tom Lee of Fundstrat, described ETH as the “biggest macro trade over the next decade.”
Several research firms consulted by Bitmine have estimated Ethereum’s potential value by comparing its capabilities to those of Wall Street’s traditional financial infrastructure. Using a “replacement value” model, they assessed Ethereum’s worth in terms of settlement systems and payment volumes, projecting a combined network value of $7 trillion.
With Ethereum currently valued at just $0.4 trillion and trading around $3,800, the analysis implies an 18x upside potential, placing ETH’s hypothetical value at approximately $60,000.
Ethereum trades at $3,872, a 1.6% decline in the past day, reducing its monthly gain to 57.6%. Meanwhile, Tom Lee had earlier predicted the Ethereum price to reach $4000 this July and $15,000 by the end of the year.
Meanwhile, BitMine’s vision centers on acquiring and staking up to 5% of Ethereum’s circulating supply. The firm holds 600,000 ETH, representing roughly 0.5% of Ethereum’s circulating supply.
BitMine believes in Ethereum’s role in powering stablecoins, a sector projected by the U.S. Treasury officials to surpass $2 trillion in value, enabling real-world asset tokenization, and supporting institutional finance, which will drive long-term price appreciation.
According to BitMine, Ethereum’s dominance is already evident, as over 60% of all stablecoins operate on its blockchain.
ETH Strategy Builds on Treasury Model
BitMine launched its Ethereum treasury strategy with a $250 million private investment in public equity (PIPE) deal, which closed on July 8. Just 18 days later, the firm’s ETH and treasury holdings had grown to $2.7 billion, exceeding the initial capital raise by more than 700%. The net asset value (NAV) per share rose from $4 to $23 during the same period, a sixfold increase.
The company’s approach mirrors the early strategy of Strategy, which famously pivoted into Bitcoin in 2020. BitMine noted that it reached $2.7 billion in holdings in 18 days, compared to 180 days for Strategy to achieve the same benchmark with Bitcoin.
Ethereum Seen as Financial Infrastructure
BitMine argues that Ethereum treasury firms are more than just asset holders; they are becoming infrastructure providers. As Ethereum runs on a proof-of-stake model, BitMine’s staked ETH contributes to network security and generates yield.
The company claims that this dual role makes ETH an attractive long-term asset. With Wall Street firms increasingly using Ethereum to tokenize assets and issue stablecoins, BitMine sees ETH as a foundational layer of future finance.
The company also launched a monthly update series titled The Chairman’s Message, led by Tom Lee, to share ongoing progress and strategy.
Corporate Treasuries Enter Ethereum Market
However, BitMine is not alone. Other corporations are also building Ethereum reserves. SharpLink Gaming holds 438,000 ETH, Bit Digital owns over 100,000, and Blockchain Technology Consensus Solutions recently raised $62.4 million to expand its holdings to over 29,000 ETH.
However, BitMine currently holds the largest known ETH treasury among public companies. Its stated goal is to become the “MicroStrategy of Ethereum.”
Despite the bullish outlook and rapid ETH accumulation, BitMine’s stock performance has been volatile. After soaring more than 3,000% earlier this month, BMNR shares have since dropped over 25%, closing around $35 after reaching a yearly high of $135.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
