Tom Lee Buys Ethereum Amid Market Turbulence

Tom Lee, chairman of BitMine Immersion Technologies, has withdrawn 20,514 ETH worth $69.8 million from FalconX and transferred it to a self-custody wallet. This move has been interpreted as a sign of Lee's confidence in Ethereum's long-term prospects despite the current market pressure. Lee has consistently advised investors to continue betting on Ethereum, and his latest purchase has sparked renewed confidence across the crypto community. Ethereum has retreated to the $3,300 level, but Lee views the pullback as an opportunity to increase BitMine's ETH treasury at discounted prices.