Tom Lee Sees Ethereum Pulling Ahead of Bitcoin — and Names 2 Reasons
Bitmine Chairman Tom Lee says the ETH/BTC ratio has damaged above a multi-year downtrend. He reads the shift as markets pricing in tokenization and agentic-AI demand for Ethereum (ETH).
The remark accompanied BitMine’s weekly treasury replace. It confirmed the corporate sharply slowing its Ethereum purchases whereas stepping up its personal inventory repurchases.
Why the ETH/BTC Ratio Matters to Lee
The ratio measures Ethereum’s performance relative to Bitcoin. A rising ETH/BTC ratio is usually interpreted as enhancing relative demand for Ethereum, whereas a declining ratio signifies stronger Bitcoin efficiency.
Lee has argued that the ratio has risen throughout crypto bull cycles. Initial coin choices (ICOs) drove the 2017 and 2018 transfer, non-fungible tokens (NFTs) drove the following one, and stablecoins drove 2025.
He now factors to Wall Street settling belongings onchain and to agentic AI, meaning software agents that transact with out human enter.
“We are inspired to see the ETH/BTC ratio at 0.02994 and rising. This ratio has moved above the long-term downtrend in place over the previous couple of years and is an indication, in our view, that markets are starting to see materialization of tokenization and agentic-AI purposes, which ought to profit Ethereum,” Lee (*2*).
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Ethereum Buying Slows While Buybacks Accelerate
BitMine holds 5,815,164 ETH, roughly 4.8% of the 120.7 million provide. This stack is value about $11 billion with ETH trading near $1,902. Total crypto and money reached $11.4 billion, together with 210 BTC.
Purchases have thinned, nonetheless. The agency added 9,926 ETH final week, in contrast with a weekly common of 59,998 ETH throughout 43 weeks of disclosed purchases.
The previous 5 weeks are the one weeks beneath 11,000 ETH since late October. Purchases over that interval peaked at 138,452 ETH in December. Reaching 5% requires roughly 220,000 extra tokens, or below 4 weeks at that earlier tempo.
Capital went elsewhere as a substitute. BitMine repurchased 1.7 million shares final week and 20.8 million shares since July 1, which Lee referred to as the most important buyback executed by any crypto digital asset treasury.
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The publish Tom Lee Sees Ethereum Pulling Ahead of Bitcoin — and Names 2 Reasons appeared first on BeInCrypto.
