Tom Lee: Market pullbacks present "extremely attractive" entry points; Bitmine buys $84 million worth of Ethereum this week.

According to Arkham data, BitMine purchased a total of 40,000 ETH from FalconX and BitGo on Monday, worth $84 million, at a price of approximately $2,090. As of the end of last week, BitMine held 4,325,738 ETH, with a total value of $914 million. The company has now achieved 72% of its goal of acquiring 5% of the circulating Ethereum supply. Furthermore, BitMine has staked approximately 67% of its ETH holdings, generating an annualized return of $202 million. Tom Lee stated that the best investment opportunities in cryptocurrencies typically appear after a downturn. Given Ethereum's continuously strengthening fundamentals, this market pullback presents a highly attractive entry point, as the current ETH price does not reflect its high utility as a future financial core. Regarding BitMine's significant unrealized losses, Tom Lee pointed out that this is an expected component of the Ethereum Treasury strategy during market downturns, with the company aiming to achieve excess returns through the full market cycle.