Tom Lee once again supports Ethereum: due to supply contraction, BitMine may only need to hold no more than 5% of the total supply.

Tom Lee once again supports Ethereum: due to supply contraction, BitMine may only need to hold no more than 5% of the total supply. BlockBeats news, June 11, 2023, Tom Lee stated at the DACFP conference for investment advisors that the current financial system is built on a multi-layer technology stack, with a large number of "false or fraudulent transactions," while Ethereum (ETH) and Bitcoin (BTC) have "never experienced fraudulent transactions" at the blockchain level, and blockchain operation costs are lower.
Tom Lee further pointed out that investing in blockchain is similar to holding real estate assets, and in the future, "agent AI" will rely on blockchain to achieve higher speeds and prevent system failures.
Next, three things need to be watched: whether related funds continue to flow in, whether on-chain transaction volume and holdings continue to expand, and whether project parties or regulators provide new confirmation information. A single piece of news can only indicate that sentiment is ignited; subsequent data will determine whether it can solidify into a trend.
Risks should also be on the table: he also mentioned that ETH supply is shrinking, and BitMine may not need to hold more than 5% of the total ETH supply. Additionally, he stated that BitMine might be included in the Russell 1000 index by the end of June, which could provide stability support for its stock price, and mentioned the company's holdings in MrBeast-related financial companies.
$eth #btc #On-chain data #ai #Regulation