Fundstrat’s Tom Lee remains bullish on Ether, purchasing $1.5 billion worth post-market crash. BitMine Immersion Technologies acquired 379,271 ETH since the record liquidation event, totaling almost $1.5 billion. The world’s largest Ether treasury company now holds over 3 million ETH, worth $11.7 billion, halfway towards its 5% target.

Despite concerns of a digital asset treasury bubble burst, Ether accumulation continues. Research firm 10x Research reported major DATs trading below their NAVs. Huobi founder raised $1 billion for an Ether treasury strategy. Tom Lee mentioned investors suffering from gold envy as the commodity outperformed this year.

Crypto markets down 15% since October 7 high, while gold prices retreated 3% from their peak. Tom Lee stated leveraged longs in crypto are near record lows. Lee believes this is not the top of the crypto cycle and that the market is at the basement, working its way back up.

Read more at cointelegraph.com: BitMine Buys $1.5B In Ether As Tom Lee Remains Bullish On ETH