Nearly three years after the Merge formally switched Ethereum to proof-of-stake on 15 September 2022, a publicly listed Bitcoin miner is adopting the network’s native token as its primary treasury asset. BitMine Immersion Technologies (NYSE American: BMNR) on 30 June priced a $250 million private placement of 55,555,556 new shares at $4.50 each and appointed Fundstrat co-founder Tom Lee as chairman. The company’s SEC filing and press release make the purpose explicit: all net proceeds will be used to acquire and stake ether, a move management likens to Michael Saylor’s now-legendary Bitcoin strategy at MicroStrategy. Tom Lee Goes Full MicroStrategy On Ethereum Speaking hours later on CNBC’s Squawk Box, Lee framed the pivot as a logical response to the explosive growth of stablecoins, most of which settle on Ethereum. “Stablecoins, which is the ChatGPT of crypto, because it’s viral adoption by consumers, businesses, banks and now even Visa,” he said, underscoring why a treasury heavy in ETH could become strategically indispensable. Ethereum’s proof-of-stake design means that large holders who validate blocks “secure the fidelity of stablecoins,” Lee continued. “When Goldman issues a stablecoin and JP Morgan [issues] it on Ethereum as a layer-one blockchain, they’re going to want to secure it by staking Ethereum.” Related Reading: Top Analyst Predicts Major Ethereum Rally Toward $4,000 As Shorts Hit All-Time Highs Lee tied the long-term upside to macro numbers the US Treasury itself has started to cite. Stablecoins today hover around $250 billion; Treasury Secretary Scott Bessent recently suggested the figure could hit $2 trillion—a potential ten-fold expansion that, in Lee’s words, would “insure dollar dominance.” Because Ethereum already underpins more than half of stable-value tokens, a multi-trillion-dollar stablecoin market would translate directly into rising transaction fees for the network and, by extension, higher staking rewards for BitMine’s planned validator clusters. The private-placement syndicate reads like a who’s-who roster from both TradFi and crypto: MOZAYYX led the round, joined by Founders Fund, Pantera, FalconX, Republic Digital, Kraken, Galaxy Digital, Digital Currency Group, Diametric Capital and Occam Crest. Closing is expected on or about 3 July, subject to NYSE American approval. BitMine, headquartered in Las Vegas, will immediately deploy the ETH position into staking, giving the miner a yield-bearing balance-sheet asset while reinforcing Ethereum’s security budget. “One of the key performance metrics for BitMine going forward is to increase the value of ETH held per share,” chief executive Jonathan Bates said in the statement. For investors, the comparison with MicroStrategy is unavoidable but imperfect. Saylor’s company amassed bitcoin under a proof-of-work regime that offers no native yield; BitMine’s ether can generate income through both staking rewards and potential capital-markets transactions collateralized by those staked coins. Related Reading: Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation Yet both strategies share a central bet: that a scarce digital asset sitting at the core of global finance will appreciate faster than cash alternatives on a corporate balance sheet. Whether BitMine achieves MicroStrategy-level returns will depend on execution, regulatory clarity for staking, and—most of all—Ethereum’s price path. What is clear, however, is that corporate treasuries are beginning to see ether not merely as “gas” for decentralized applications but as a strategic reserve asset in its own right. From a market-structure vantage, the new treasury model could translate into meaningful price torque for Ether if it scales. MicroStrategy’s serial purchases have now absorbed nearly 600,000 BTC—around 2.8 percent of the 21 million-coin cap—and coincided with Bitcoin’s ascent from roughly $11,000 in August 2020, when the company made its first buy, to more than $107,000 today, a near-ten-fold move. BitMine’s opening salvo—$250 million, or about 100,000 ETH at current prices—represents barely 0.08 percent of Ethereum’s 122 million-coin supply, yet roughly 28 percent of that supply is already locked in staking contracts while net issuance has turned negative post-EIP-1559, shrinking the freely tradable float. If even a handful of additional balance sheets emulate this “ETH-as-reserve” playbook, the resulting demand shock could replicate the supply-squeeze dynamics that propelled Bitcoin into six-figure territory. At press time, Ether traded at $2,459. Featured image created with DALL.E, chart from TradingView.com
Despite signs of short-term bearish signals, the long-term outlook for bitcoin remains bullish from a technical analysis perspective. By Katie Stockton.
There are growing signs that ether is poised to lead its more well-established rival in the new year.
Digital asset prices may still see substantial gains before the market corrects, the analyst said.
Steno predicts Bitcoin at $150,000 and Ether at $8,000, setting the stage for an altcoin season in 2025.
The monthly record in ETF inflows was insufficient to lift Ether's price past the $3,500 resistance, which would trigger over $1 billion worth of leveraged short liquidations.
Inflows into crypto exchange-traded funds are a key driver of price performance, the asset manager said.
Beyond the $1.1 million unrealized profit, the trader earned over $680,000 worth of funding fees on his short position, ripe for liquidation above $4,750.
Ether ETFs surpassed $2.5B in inflows, signaling optimism despite a 10% price drop and resistance at $3,500. Institutions like VanEck predict a $6,000 cycle top for Ether price during 2025.
Ether’s price may see an imminent breakout against Bitcoin based on Ether’s correlation with the four-year Bitcoin halving cycle.
Increasingly more analysts and chart patterns are pointing to an imminent Ether breakout to an all-time high, bolstered by BlackRock doubling its Ether ETF holdings.
Ether price’s rally to the $5,000 psychological mark may be a “minimum target” based on emerging ETH fractal patterns and Bitcoin’s surge above $100,000.
Ethereum price finally took out the $4,000 resistance level, and one analyst says ETH could hit $15,000 by May 2025.
Ether’s price is set for a boost above $4,000 as Trump prepares to take office on Jan. 20, which also marks the last day of work for SEC Chair Gary Gensler.
Ether has outperformed Bitcoin in futures yields, signaling more potential ETF inflows that could catalyze a rally above $4,000 before Jan. 20.
Analysts are eyeing a potential $20,000 cycle top for the Ether price, which is expected to gain momentum in the first half of 2025.
Despite millions of selling pressure, Ether is staging a breakout to above $3,700 due to an emerging bull flag, according to market analysts.
Smart money sentiment around Ether is significantly positive. Is it a sign that ETH’s rally will continue?
A new Ethereum whale recently bought 18,000 ETH. Is it a sign that ETH’s rally will continue?
With Donald Trump’s election, a crypto-friendly regulator may replace SEC Chair Gensler, opening the door for staking rewards on spot ETH ETFs.
The strong performance of Ethereum in recent days has caught the attention of experts. In several posts on X, prominent fund managers and industry leaders have projected a bullish outlook for Ethereum (ETH), positioning it to outperform Bitcoin (BTC) with a target price of $8,000. This optimism is underpinned by anticipated regulatory advancements for the decentralized finance (DeFi) ecosystem. Why Ethereum Could Outperform Bitcoin Raoul Pal, Founder and CEO of Global Macro Investor, articulated his perspective on ETH’s potential resurgence in a post that has garnered significant attention within the crypto community. “I’ve been expecting ETH to start gaining lost ground on BTC. It’s partly driven by the risk-taking cycle but it’s also driven by the election,” Pal stated. Pal highlighted two primary factors contributing to ETH’s anticipated outperformance. The first one is the enhanced utility in DeFi: “Utility tokens in DeFi begin to offer yield or reward of underlying protocol which creates network value. Most of this is on ETH,” Pal explained. Related Reading: Ethereum Jumps 10% As DeFi Sentiment Rebounds With Trump’s Victory The second factor is the adoption by Traditional Finance (TradFi). “TradFi will likely begin to build larger use cases but on the most tested, adopted chain. Think of ETH (and the L2’s) as the Microsoft of web3. No one gets fired for using it,” Pal asserted. These developments, according to Pal, are poised to “dramatically re-rate ETH and offset the current retail adoption on other chains,” with the added advantage that ETH yields will attract more institutional players. He emphasized the potential for constructing sophisticated financial products, such as guaranteed funds, under improved regulatory conditions. “With better regs this activity will explode,” Pal concluded. Supporting Pal’s outlook, Dan Tapiero, founder and CEO of 10T Holdings—a growth equity fund specializing in mid-to-late stage investments within the digital asset ecosystem—commented on Pal’s post: “Yup. More eloquent version of what I posted last night. Very funny.” Tapiero referenced his own earlier assertion that “Ethereum too cheap. Gonna explode from here. Gensler and Co killed Defi in the US in ’22-24. Not killed now. Long Live US Defi. Break of $4k going over $8k in the next year.” Related Reading: Ethereum Surges Past $2,500: What The Futures Market Signals For Traders However, Pal also noted a hierarchical adoption landscape within the crypto space, suggesting that while ETH may outpace BTC, it might underperform Solana (SOL) and, subsequently, Sui (SUI). “My view is that ETH begins to outpace BTC for the rest of the cycle but underperforms SOL and SOL underperforms SUI as SUI is in the ultimate performance stage of adoption – early > proven. Let’s see,” he remarked. The discourse around Ethereum’s prospects also attracted engagement from the broader crypto community. A user named Himura (@aceddeca1) proposed an alternative investment thesis: “ETH will be fine but if that is your thesis it would be better spent on UNI especially with Unichain … Uniswap going to own chain is the base token you wish Coinbase would launch.” Pal responded succinctly, “Interesting thought.” Additionally, concerns regarding potential biases were raised by user Galavis (@FedericoGalavis): “Be careful with SUI folks as only 0.82% of the supply has been unlocked. Are you a paid SUI promoter Raoul? If you are you better disclose.” Pal countered, “You need to do more research on all your comments,” addressing the speculation over his impartiality. Notably, Pal serves as a Board Member at the Sui Foundation, a fact that may inform perceptions of his commentary on SUI. At press time, ETH traded at $2,916. Featured image created with DALL.E, chart from TradingView.com
Trump’s presidential victory inspired a new wave of optimism, including predictions for an imminent Ether rally to $3,200 and hopes for a reform of the US SEC.
Trump’s election victory has inspired more optimism among crypto analysts, with some expecting Bitcoin to breach $100,000 before the end of 2024, boosting Ether’s price along the way.
Trump's win sparked a surge of interest in crypto, Galaxy's CEO reportedly said.
More Ether-related ETFs could help ETH prices rise above the old all-time high of $4,800, recorded nearly three years ago.
The Ether whale moved the funds for the first time in eight year with 800x gains as ETH price edged above $2,800.
Ethereum price continues to consolidate, but a fledgling technical pattern hints at an upcoming rally to $2,800.
Ethereum daily fees hover between $1 million to $5 million — far less than the $30 million that was consistently reached throughout 2021 and 2022.
Ether price is down today after enduring a 9% decline in three days, and data suggests that the altcoin is poised for further downside.
Data points to an Ethereum price rally to $3,000, but ETH charts imply that a few corrections could occur along the way.