Fundstrat’s co-founder, Tom Lee, recently shared a photograph on social media featuring himself and Michael Saylor, emphasizing that there is no competition between Bitcoin 
$91,081 and Ethereum 
$3,094, stating that the two major cryptocurrencies are friends. Lee’s statement comes after recent criticism suggesting his shift in focus toward Ethereum.
Tom Lee and BitMine’s Ethereum-Centric Activities
In June, Tom Lee became the chairman of BitMine Technologies. Within a short period, the company has evolved into one of the largest institutional treasury entities focused on Ethereum. This positioning highlights BitMine’s significance in the crypto market, sparking discussions regarding Lee’s perspective on Bitcoin and Ethereum among the public.
BitMine recently increased its total assets to 9.3 billion dollars through a new 200 million-dollar acquisition. This move positions the company at the forefront of Ethereum holdings. BitMine aims to control 5% of the Ethereum supply.
Corporate Dynamics in Ethereum Holdings
Institutional treasury structures focused on Ethereum are continuously expanding. BitMine is approaching a leading position with assets totaling 9.3 billion dollars, while Joe Lubin’s SharpLink has surpassed the 3 billion-dollar threshold. Additionally, Michael Saylor’s Strategy company maintains its operations with a 3 billion-dollar Ethereum portfolio.
The strengthening of treasury structures based on Ethereum holdings is reshaping the balance among companies in the crypto market. BitMine’s prominence is evident in this area, although other players continue to maintain their positions within the market.
According to CoinMarketCap, the main asset of the Ethereum network, ETH, has increased by 2.89% over the last 24 hours, trading at 4,441 dollars. Data indicates that the largest altcoin, with a market value of 536.2 billion dollars, has risen by 1.52% over the past seven days.
