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signs of bottoming out, which means that they’re set for a rebound.“So much is being built on Ethereum now, almost every major announcement of a tokenised fund,” Lee said on CNBC Squawk Box. “If it’s all taking place on Ethereum then price follows.”Tokenisation is the process of converting ownership rights in assets such as real estate, stocks or bonds into digital tokens on a blockchain. Financial giants such as BlackRock’s CEO Larry Fink have sung the praises of tokenisation, saying it will boost efficiencies and reduce corruption.Lee has previously forecast that Ethereum’s price will hit $250,000, but hasn’t provided a timeline for that surge.Lee’s bullish forecast comes as Ethereum’s price has crashed over 50% since the October mass liquidation event that triggered a $2 trillion crypto market drawdown. Bitmine’s share price has also mirrored the negative price action, declining some 66% since September to trade at $20 per share.“Bitmine is sitting on more than $8 billion in unrealised losses, ” Luke Nolan, senior research associate at CoinShares, told DL News. Paper losses during a market downturn are not the same as permanent losses, especially if there are no loan rules, margin calls or regular interest payments forcing you to sell, Nolan said.Wall Street is taking advantage of the discount. BlackRock’s holdings of Bitmine shares surged by 166% to $246 million in the fourth-quarter of 2025, according to a 13F-HR form filed with the SEC.On Friday, Jeff Housenbold, Beast Industries CEO, declared Ethereum the “backbone” of the stablecoin industry and touted the promise of decentralised finance as the company plans to launch new fintech products for its 1.5 billion fanbase. Bitmine invested $200 million into Beast Industries in January.Ethereum is up 9% over the past seven days to trade around $2,000.Lee’s optimism also comes against the backdrop of an escalating conflict in the Middle East.Yet, traders shouldn’t be too concerned about the US and Israeli strikes on Iran because the US economy’s fundamentals haven’t changed, Lee said.“In the past, markets tend to sell during the buildup, and they tend to do better once the battle begins, and I think this is going to be similar,” he said. “No one likes to see headlines and images of explosions and war.”Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,882.05 +65.42 (+0.96%)Dow 3048,775.86 +274.59 (+0.57%)Nasdaq22,883.13 +366.44 (+1.63%)Russell 20002,635.96 +27.60 (+1.06%)VIX20.68 -2.89 (-12.26%)Gold5,141.60 +17.90 (+0.35%)Trending tickersBTC-USD Bitcoin USD 73,694.78 +5,090.59 (+7.42%)COIN Coinbase Global, Inc. 210.85 +28.49 (+15.62%)ASNS Actelis Networks, Inc. 0.5591 +0.3709 (+196.97%)NBIS Nebius Group N.V. 97.51 +10.71 (+12.34%)MSTR Strategy Inc 147.06 +14.38 (+10.84%)PortfolioSign in to access your portfolioSign inTop gainersGLXY Galaxy Digital 23.92 +3.24 (+15.67%)COIN Coinbase Global, Inc. 210.58 +28.21 (+15.47%)MRNA Moderna, Inc. 57.25 +7.42 (+14.89%)SSRM SSR Mining Inc. 32.95 +4.02 (+13.90%)ASTS AST SpaceMobile, Inc. 105.43 +12.75 (+13.76%)Top losersIBRX ImmunityBio, Inc. 9.16 -0.84 (-8.40%)AXTI AXT, Inc. 38.62 -3.14 (-7.53%)GTLB GitLab Inc. 24.90 -1.80 (-6.74%)NN NextNav Inc. 15.98 -1.08 (-6.33%)FROG JFrog Ltd. 39.82 -2.42 (-5.73%)Most activeNVDA NVIDIA Corporation 184.61 +4.56 (+2.53%)PLUG Plug Power Inc. 2.4150 +0.1850 (+8.30%)ONDS Ondas Inc. 10.37 +0.35 (+3.49%)INTC Intel Corporation 45.81 +2.71 (+6.28%)NOK Nokia Oyj 8.15 +0.08 (+0.93%)Top economic eventsEarnings eventsMy earnings eventsEarnings events