Wall Street Is Buying Crypto ‘Quietly’ — And That’s Bullish, Says Bitmine's Tom Lee
Main Idea
Tom Lee of Bitmine believes Wall Street's quiet entry into crypto is bullish, with ether and bitcoin still in early-stage institutional adoption, and predicts significant growth for ETH and BTC.
Key Points
1. Tom Lee describes the current crypto and equities rebound as 'the most hated V-shaped bounce,' noting investors have underestimated recoveries since 2020.
2. Ethereum's reliability, with no downtime, is attracting Wall Street institutions, according to Lee.
3. Bitmine holds 625,000 ETH and nearly $2.8 billion in assets, with plans for a $1 billion share buyback and a goal to accumulate 5% of ETH supply.
4. Lee values ETH at $15,000 (currently $3,700) and predicts BTC could reach $250,000, stating the market is 'just mid-cycle.'
Description
Crypto markets may be climbing, but some investors don’t believe the rally is real, and that’s exactly why it could go much higher, according to Tom Lee, co-founder of Fundstrat and chairman of Ethereum treasury firm Bitmine Immersion (BMNR). Speaking with CoinDeskTV, Lee explained why he called the rebound across crypto and equities that started in April " the most hated V-shaped bounce in history. " That's because when markets slumped after President Donald Trump's tariff announcements at the ...
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