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Tom Lee has accumulated 3% of the ETH supply out of the total 5% ETH supply target. While the crowd laughed at Tom Lee because the 3 billion words did not turn into a negative 4 billion, Bitmine still steadily bought ETH. This strategy expects accumulation from July 2025 to July 2026 similar to Michael Saylor with his price-blind Bitcoin DCA strategy. Rich believes that for Wall Street bigwigs, taking billion-dollar losses before making big profits is part of the plan. Michael Saylor was once laughed at and criticized, but in the end, his strong belief in Bitcoin helped him overcome it all. One thing you need to avoid is confusion when looking at Tom Lee's 2 ETH accumulation models, which are completely different from Saylor's BTC accumulation model. Tom Lee's model calls for equity Capital because he is a reputable figure on Wall Street, avoiding relying on direct leverage (issuing convertible bonds like Saylor's model), thereby pushing BMNR's stock price up when ETH price increases. This shows that not only Tom Lee personally believes in ETH , but behind the Capital funds, there are also many big guys who believe in Tom Lee when directly giving him money to invest. Tom Lee's philosophy of investing in ETH is quite simple: 1/ ETH can generate cash flow while BTC cannot. ETH 's mechanism allows entities to Staking ETH and receive interest. From there, Tom Lee will hold the interest to pay off debt and interest to investors. 2/ ETH is the future infrastructure of stablecoins, AI agent economy and Token of stocks and bonds onchain. Or to put it more succinctly, Tom Lee saw Ethereum as the future of finance and got ahead of it before Wall Street fully took over. If BTC becomes the crypto asset with the highest scarcity, ETH is the only crypto asset with practical application. Rich is quite confident in this vision and will wait for an opportunity to sell in May 2026. Do you believe in Tom Lee's vision when they are losing billions of dollars?

Bitmine (NYSE-BMNR) $ETH
@BitMNR
🧵 BitMine provided its latest holdings update for Nov 24th, 2025: $11.8 billion in total crypto + "moonshots": -3,629,701 ETH at $2,840 per ETH (@coinbase ) - 192 Bitcoin (BTC) - $38 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and - unencumbered cash of $800
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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