TL;DR
- Tom Lee stated at Korea Blockchain Week 2026 that the crypto market is entering the largest bull run in history.
- Lee noted that Americans in their twenties will inherit around $700 billion this year, driving flows into cryptocurrencies.
- BitMine holds 6,001,302 ETH valued at approximately $16.06 billion, with more than 5 million currently staked.
Tom Lee, chairman of BitMine, declared during Korea Blockchain Week 2026 that the cryptocurrency market is entering the largest bull cycle in its history. His comments were backed by steady purchases of Ethereum that bring BitMine closer to its ambitious goal.
Lee grounded his theory in the fact that Bitcoin is trading above its 200-day moving average, a signal that preceded eight of the last nine bull markets over twelve years. He added to that argument the steady institutional flows into Bitcoin-linked products throughout September. “I believe this crypto cycle will be the biggest of all,” he declared before attendees at the event in Seoul.
🇰🇷LATEST: Bitmine's Tom Lee says "a crypto BULL MARKET is underway.”
Tom Lee at Korea Blockchain Week 2026 outlines his reasons on why a crypto bull market is underway.
“Ethereum has been consolidating for 5 years” he adds. pic.twitter.com/Xd8n0qZIqL
— Coin Bureau (@coinbureau) September 30, 2026
Tom Lee Focuses on Institutions and the Entry of New Capital
The executive also highlighted the participation of major financial institutions. Banks such as BlackRock and JPMorgan Chase are tokenizing assets, which reinforces the legitimacy of the sector and suggests that traditional finance treats blockchain infrastructure as something permanent, not experimental.
Another key catalyst in his analysis is the generational wealth transfer: Americans in their twenties will inherit approximately $700 billion this year, compared to around $100 billion in 2019–2020. Lee estimates that this mass of capital could push the total crypto market valuation toward $10 trillion. He also cited Ethereum’s track record, which posted gains of 227 times in 2016 and 50 times in 2020 following prolonged periods of sideways trading.
BitMine Targets 5% of Ethereum’s Supply
BitMine aims to control 5% of Ethereum’s total supply through acquisitions, staking, and share buybacks. During the week ending September 28 it acquired 17,362 ETH, after having purchased 27,562 ETH the previous week. Those transactions brought its total holdings to 6,001,302 ETH, equivalent to approximately $16.06 billion at the current price.
As of September 27, BitMine had 5,067,309 ETH staked, a figure the company claims exceeds that of any other entity in the world. Lee described Ethereum as the best macro asset of the quarter, whose performance far outpaced traditional markets.
He expects institutions still underweight in cryptocurrencies to increase their exposure during the fourth quarter. “Our goal is for BitMine shares to deliver returns that outperform Ethereum itself,” the executive stated.
