BitMine has suggested a massive $60,000 price prediction for Ethereum as institutional buying heats up
By Parth Dubey
Editor Julia Sakovich
Updated
2 mins read
Tom Lee’s ETH-focused treasury firm, BitMine Immersion Technologies, made headlines with its first public investor presentation “The Alchemy of 5%” released on July 28. Meanwhile, Ether ETH $3 764 24h volatility: 0.7% Market cap: $454.37 B Vol. 24h: $32.73 B has gained nearly 150% since its April lows below $1,500, briefly touching $4,000 this week.
10/18
We asked several research firms to give us "replacement" value (of Wall Street) to value ETH– this is for illustrative purposes only
– implied value for ETH is $60,000
– ETH currently ~$3,800 pic.twitter.com/mXa5uCZukv— Bitmine BMNR (@BitMNR) July 28, 2025
The presentation was based on a bullish theory, predicting Ethereum’s value could soar to $60,000 per token. “Many on Wall Street say Ethereum is the ‘biggest macro trade over the next decade,’” the firm stated, citing rapid adoption of stablecoins and asset tokenization.
BitMine explained that over 60% of stablecoins are hosted on the Ethereum network, which could see further inflows as tokenized assets gain traction among institutions.
The presentation stated that Ethereum’s “replacement value” to Wall Street suggests a consensus valuation of $60,000 per ETH. During the presentation, Lee confirmed that BitMine holds 600,000 ETH, currently valued at over $2.2 billion.
David Grider, a partner at venture firm Finality Capital, also displayed bullish sentiment on X. He compared the rise of Ether treasury companies to the MicroStrategy-Bitcoin effect, suggesting that similar corporate accumulation could drive ETH prices even higher.
9/ While we think BMNR has proven to be the current market leader due to @fundstrat and teams' strong execution, we think the Ethereum Treasury Co. boom overall should bode well for $ETH flows and price action similar to the impact @MicroStrategy had on $BTC over recent years -…
— David Grider (@David_Grid) July 28, 2025
Finality Capital disclosed its own position in BitMine. Other corporate ETH holders include SharpLink Gaming, Bit Digital, and Blockchain Technology Consensus Solutions.
At press time, ETH is trading around $3,817, down by around 2.5% in the past day, attempting to break out of its short-term consolidation phase for the third time in July.
Each previous breakout this month resulted in a weekly price jump: 25% and 30%, respectively. Crypto analyst ZYN believes a similar move could push ETH above $4,300 by the end of this week.
$ETH has broken out of its short-term consolidation phase.
First time it happened, ETH pumped 25% in a week.
2nd time it happened, ETH pumped 30% in a week.
If history repeat itself again, ETH will trade above $4,300 by end of this week. pic.twitter.com/Cc6TaJmgDd
— ZYN (@Zynweb3) July 28, 2025
Meanwhile, Ethereum futures open interest (OI) has sharply rebounded. According to Glassnode, combined OI for ETH, SOL SOL $181.2 24h volatility: 2.6% Market cap: $97.31 B Vol. 24h: $5.13 B , and XRP XRP $3.14 24h volatility: 0.5% Market cap: $186.27 B Vol. 24h: $6.95 B stands at $44.2 billion, nearing last week’s $45 billion high.
After dipping slightly before the weekend, Futures OI across major #altcoins is recovering. The combined OI of $ETH, $SOL and $XRP has rebounded sharply to $44.2B – just shy of last week’s high ($45B). $ETH OI saw the biggest swing while $SOL and $XRP were more stable. pic.twitter.com/Skpdu7mNva
— glassnode (@glassnode) July 28, 2025
ETH saw the largest rise in OI, reflecting renewed investor confidence and bullish momentum. Analysis shows that a retest of $4,000 and new all-time highs are quite likely in the upcoming weeks, making ETH one of the best crypto to buy in the current market scenarios.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
