Tom Lee, chairman of Bitmine Immersion Technologies, said during Korea Blockchain Week 2026 that a new crypto bull market is already underway and could become the largest cycle yet. He maintained his long-term price targets of $150,000 for Bitcoin and $60,000 for Ethereum within a couple of years.
The comments followed a meme-style post from Binance founder Changpeng Zhao, who shared an AI-generated green-tinted image hinting that crypto markets could turn green soon. Lee responded, “Agree, do you own enough crypto?” Zhao also amplified an earlier message about the long-term potential of the BNB Chain.
Lee said earlier cycles were driven by ICOs, NFTs, meme coins, and stablecoins, but this cycle looks different. He expects tokenization of real-world assets, AI adoption, institutional capital flows, a friendlier policy environment, and digital-asset treasury companies to play larger roles. He argued that DAT companies can hold crypto on balance sheets without the repayment pressure typical of traditional investment funds, potentially amplifying the bull market.
Bitmine has continued its Ethereum treasury strategy, buying 17,362 ETH last week and pushing its total above 6 million ETH, worth more than $16 billion at current prices. The company has bought Ethereum every week since starting the strategy in June of last year. Bitcoin, Ethereum, and BNB all posted monthly gains in September, though momentum slowed over the past week as rising Treasury yields pressured prices.
The assessment reflects Lee’s market expectations and is not investment advice.
