Bitcoin News
By Pankaj K
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What Has to Happen First. Bitcoin needs to more than double from here. That's step one.
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Where Ethereum Sits Now. Ethereum's trading around $2,330. It peaked near $4,900 and then fell off a cliff, bottoming at…
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The BitMine Immersion Technologies chairman thinks ETH can climb nearly tenfold from its current $2,280 price tag, but only if a bunch of things go right at once.
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Lee's bet basically works like this: Bitcoin goes to $250K, the ETH/BTC ratio climbs back to 0.087 from today's 0.
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Bitcoin needs to more than double from here. That's step one. Then Ethereum needs to outperform Bitcoin by a huge margin to get that ratio back to 0.087. Right now it's at 0.
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And Lee thinks AI agents will need a 24/7 settlement layer that doesn't rely on traditional finance.
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Lee runs BitMine, which holds more than 4% of all circulating Ethereum. The firm makes serious money from staking rewards on that pile. So he's not exactly a neutral observer here.
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The technical picture isn't great yet. Ethereum lost over 60% from its peak. The recovery from $1,750 has been slow and choppy.
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Support sits at $2,000 and $1,750. If those levels break, the whole recovery thesis falls apart.
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Related: Mega Whales Snap Up 577K ETH as Ethereum Holders Brace for Volatility
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The ETH/BTC ratio tells a rough story. It's at 0.03, way below the 2021 peak of 0.087. That means Ethereum's been underperforming Bitcoin for years.
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So Ethereum needs to start outperforming Bitcoin again. That hasn't happened in a sustained way since 2021.
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Lee thinks AI changes the game. He sees autonomous agents needing a decentralized payment layer that works 24/7 without banks.
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That's the big unknown. AI adoption could drive huge demand for blockchain settlement. Or it could go a completely different way. Traditional finance could build its own rails.
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BitMine's position complicates things. The firm holds over 4% of circulating ETH and earns staking rewards on all of it.
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