BitMine’s Tom Lee Predicts Ethereum Could Overtake Bitcoin Like Dollar Surpassed Gold

Highlights:

• Tom Lee believes Ethereum could surpass Bitcoin as more assets move onto the blockchain.
• BitMine recently added over 104,000 ETH, which shows strong confidence in Ethereum’s future. 
• Michael Saylor calls Lee the most influential figure in Ethereum’s ecosystem.

Ethereum may one day surpass Bitcoin’s dominance, much like how U.S. equities eventually outshone gold after the 1971 monetary shift, according to Tom Lee, chairman of Ethereum treasury company BitMine. Speaking with ARK Invest’s Cathie Wood, he said Ethereum could follow a similar pattern to the U.S. dollar’s rise once it was detached from gold. 

Lee recalled that when President Richard Nixon ended the gold standard, gold initially gained attention, but Wall Street’s creation of financial products later turned the dollar into a global powerhouse. Lee noted that this transformation expanded the dollar’s reach from 27% of global GDP to 57% of central bank reserves and nearly 80% of financial transactions. He believes Ethereum could experience the same kind of leap as more assets, such as stablecoins, stocks, and real estate, are brought onto the blockchain through tokenization. 

While calling it a “working theory,” Lee made it clear that he remains optimistic about Bitcoin’s long-term value, even as Ethereum’s potential continues to grow. This topic of “flipping” of Bitcoin has been discussed for years, but is now gaining fresh attention. In August, ConsenSys founder Joseph Lubin said Ethereum could rise 100 times in value. He believes it may eventually overtake Bitcoin and become the base of the digital economy.

Tom Lee Strengthens ETH’s Credibility, Says Michael Saylor

Tom Lee is quickly becoming the institutional face of Ethereum, according to MicroStrategy’s Michael Saylor at the BTC in D.C. event this week. Speaking at the Kennedy Center, Saylor said Lee’s influence has boosted institutional trust in Ethereum. He added that more big investors are now entering the market with confidence because of Lee’s credibility. Saylor also called Lee the most influential public figure in Ethereum’s ecosystem and praised his role in driving new institutional interest and adoption.

BitMine Buys Ethereum as Price Eyes Big Gains

BitMine Immersion Technologies has recently added 104,336 ETH, worth $417 million, to its holdings. This brings its total Ethereum stash to about 3.03 million ETH, valued at $12.2 billion. The firm aims to control 5% of Ethereum’s supply, showing confidence in ETH’s role in global finance.

Lookonchain reported that several wallets received the funds from exchanges Kraken and BitGo. Tom Lee remains optimistic, predicting Ethereum could reach $10,000 by the end of 2025 despite the recent crypto market downturn.

It looks like Bitmine(@BitMNR) just bought another 104,336 $ETH($417M).

Over the past 7 hours, 3 new wallets received 104,336 $ETH($417M) from #Kraken and #BitGo.

Despite the crypto market crash, Tom Lee still predicts $ETH will hit $10K by year-end.https://t.co/KewyZ4cAeP… pic.twitter.com/Vn5b9ijP2Z

— Lookonchain (@lookonchain) October 16, 2025

Analyst Michaël van de Poppe said ETH/BTC looks like the early stages of past upcycles. He added there could be much more upside ahead.

$ETH vs. $BTC has literally barely started.

The first uptick has happened, just like 2019.

It means that there's so much more upside to come, we don't have comprehend and understand that it's possible.

But yes, it will come. pic.twitter.com/i5e8i2SBAd

— Michaël van de Poppe (@CryptoMichNL) October 15, 2025

Ethereum fell 18% in the past month and 15% this week. At the time of writing, it was trading at $3,692, reflecting a 9% fall in the past 24 hours. The wider crypto market dropped sharply last Friday and has kept sliding. This was influenced by former President Trump’s tweets and high market leverage.