Bitmine adds 12,532 ETH as Tom Lee ties $2 trillion wealth transfer to crypto demand
In brief
- Tom Lee cited IRS and Fundstrat estimates of $1.5 trillion to $2 trillion changing hands through 2028.
- Younger inheritors likely have a higher risk appetite for crypto and equities, Lee said.
- Bitmine bought 12,532 ETH last week, lifting holdings to 6,028,946 ETH, per its update.
- Bitmine holds about 4.9% of ether's supply, roughly 76,000 ETH short of 5%.
- Bitmine has staked about 5.07 million ETH, or 84% of its holdings.
The wealth-transfer argument
Lee pointed to estimates from the U.S. IRS and Fundstrat suggesting between $1.5 trillion and $2 trillion in wealth could change hands from 2026 through 2028. Lee has ties to the second source (he co-founded Fundstrat, a financial research and asset management firm, in 2014 and serves as its chief investment officer). His case is about age. Inheritors are younger, and in his view they'll likely take on more risk.
"The wealth transfer underway is expected to support the upcoming crypto bull market as those inheriting wealth are younger and likely have a higher risk appetite for crypto and equities," Lee said in a Monday statement.
Lee also named Wall Street's growing use of blockchain to represent financial assets, the rise of AI applications and long-term-holding crypto treasury companies as possible drivers of a new rally. Robinhood CEO Vlad Tenev made a bigger-number version of the same point last month, telling CNBC's Jim Cramer that more than $100 trillion in wealth was set to pass from older to younger generations over coming decades.
How much of that money actually reaches digital assets is unclear, CoinDesk noted.
Bitmine closes in on 5%
Bitmine's holdings update, as reported by CoinDesk, put last week's 12,532 ETH purchase at roughly $32 million at Monday's price. It lifted total holdings to 6,028,946 ETH, worth roughly $15.3 billion at that same price. That's about 4.9% of ether's 122.1 million token supply, which leaves the firm some 76,000 ETH short of its 5% goal.
CoinDesk estimated that at last week's pace, Bitmine could hit the target in about six weeks. It's an estimate based on recent buying, not a company forecast.
Lee said last week that Bitmine plans to stop accumulating ETH once it reaches the 5% mark. The firm said it has bought ETH every week since pivoting to an ether-focused strategy in June 2025.
Staking the stack
Most of that ETH isn't sitting idle. Bitmine has staked about 5.07 million ETH (84% of its holdings) and projects roughly $336 million in annualized staking revenue at current yields. At publication, CoinDesk's price ticker showed ether at $2,530.27 and Bitmine shares (BMNR) at $24.02.
Frequently asked questions
How close is Bitmine to owning 5% of ether's supply?
Bitmine's holdings update, as reported by CoinDesk, showed 6,028,946 ETH, about 4.9% of ether's 122.1 million token supply. That leaves the firm about 76,000 ETH short of its 5% goal. CoinDesk estimated it could get there in about six weeks at last week's pace.
What wealth transfer is Tom Lee talking about?
Lee cited IRS and Fundstrat estimates that between $1.5 trillion and $2 trillion in wealth could change hands from 2026 through 2028. He said younger inheritors likely have a higher risk appetite. CoinDesk noted it's unclear how much of that wealth will reach digital assets.
Will Bitmine keep buying ETH after it reaches 5%?
No. Lee said last week that Bitmine plans to stop accumulating ETH once it reaches the 5% mark. The firm said it has bought ETH every week since pivoting to an ether-focused strategy in June 2025.
