Ethereum ETHUSD recent price performance has tested investor confidence, but Fundstrat co-founder and BitMine Chairman Tom Lee believes the market is focusing too much on short-term price action.

Speaking about what could make him bearish on Ethereum, Lee said BitMine has deliberately built its business to withstand a prolonged downturn. At the same time, the company continues to invest heavily in Ethereum’s long-term growth.

If Crypto Winter Comes, We Can Make It to Spring

Lee explained that BitMine isn’t relying on rising ETH prices to survive. Instead, the company maintains a strong financial position with roughly $600 million in cash on its balance sheet.