Bitcoin has reclaimed $88,542 after consolidating near the $88,000 level, while Ethereum is trading at $2,934. Tom Lee, chairman of BitMine Immersion Technologies — the world's largest Ethereum reserve company — made a contrarian call: the parabolic surge in gold and silver is distracting markets from strengthening crypto fundamentals.
Davos Check: Institutions Ready to Move In
Lee noted on social media that precious metals' rally is "masking" the steady improvement in crypto fundamentals, which he describes as trending "northeast." He revealed that at the 2026 World Economic Forum in Davos, financial institutions are actively preparing to build products on Ethereum and other smart-contract blockchains. This year's forum featured unprecedented attention on crypto and blockchain, with sessions on tokenization, stablecoin regulation, and reshaping global financial infrastructure. Hong Kong's Financial Secretary Paul Chan also met with fintech leaders to discuss how tokenized assets could transform capital markets.
When fundamentals keep improving, price appreciation is just a matter of time.
Ethereum's 'ChatGPT Moment'
Lee previously described the current phase as Ethereum's "ChatGPT moment" — Wall Street suddenly realizing that merely tokenizing the U.S. dollar can generate massive profits. Ethereum now dominates the real-world asset (RWA) tokenization market, custodying over $12 billion in assets and issuing roughly $170 billion in stablecoins, making it the primary settlement layer for on-chain dollar activity. Data shows 70 public companies, projects, or institutions hold Ethereum as a strategic reserve, collectively owning more than 4.1 million ETH (worth ~$17.6 billion), or 3.39% of total ETH supply. Top asset managers including BlackRock, Fidelity, and VanEck have all launched Ethereum-linked products.
BTC and ETH Bottoming Out
Gold broke above $5,000 to a new all-time high, while Bitcoin has oscillated in the $87,000-$88,000 range before recovering. Lee remains bullish, predicting Bitcoin could reach $200,000-$250,000 and Ethereum $7,000-$9,000 in 2026. He argues the traditional four-year halving cycle is being disrupted by ETF-driven demand, institutional accumulation, and a macro backdrop favoring risk assets. With institutional positioning underway and fundamentals improving, a valuation repricing appears inevitable.