TechFlow news, August 2 — According to CoinDesk, Tom Lee, chairman of Ethereum treasury firm BitMine Immersion (BMNR) and co-founder of Fundstrat, said in an interview with CoinDesk TV that despite the market rebound, many investors still doubt the legitimacy of this rally, which is precisely what could drive further gains in crypto assets. Lee pointed out that since 2020, investors have repeatedly underestimated every market recovery, calling the current rebound from April "the most underappreciated V-shaped recovery in history." He stated that traditional finance is entering the crypto market "steadily and quietly," especially Ethereum, whose legal clarity and technical stability make it Wall Street's preferred platform for tokenization. BitMine currently holds 625,000 ETH, with total assets nearing $2.8 billion and almost no debt. Lee confirmed the company is advancing a $1 billion share buyback program, aiming to accumulate holdings equal to 5% of ETH's supply. Meanwhile, Lee predicted the upcoming Fed rate-cut cycle could push Bitcoin to $250,000. He believes ETH’s current price at $3,700 is undervalued, with a fair valuation based on network fundamentals around $15,000, emphasizing, "We are not at the top yet—we're only in the middle of the cycle."
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