Do you remember the analyst on CNBC in 2017 who openly expressed optimism about Bitcoin? Tom Lee was almost speaking alone at that time.

Back then, Bitcoin was only trading around $1000 , and most people didn’t take it seriously—either mocking it as a bubble like tulip mania or saying "blockchain is the future, what’s Bitcoin?" Lee’s stance sounded more like a bizarre argument in a campus debate: advising institutional investors to treat Bitcoin as digital gold and get ahead of the curve.

The consequence? His fund, Fundstrat, lost quite a few clients because of it. But how do you view his judgment now? Like fine wine, it gets better with age.

Seven or eight years have passed, and Lee hasn’t disappeared; he’s just taken on a different role. This time, he’s not an analyst but the chairman of Bitmine Immersion Technologies.

What has this company done? In the first month, they bought 833,000 ETH, accounting for 1% of the total supply. Sounds ordinary? But look at their ultimate goal—accumulating 5% of the total Ethereum supply, which at current market prices is roughly $20 billion.

Lee commented on this pace: it’s 12 times faster than a well-known institution’s Bitcoin accumulation back then.

Interestingly, this time he chose to stay silent. No more TV sermons, no more lengthy analyses. He’s just watching this company quietly accumulate chips month by month. Perhaps he has learned— the best proof isn’t words, but actions.