In a broadcast where Tom Lee was a guest, the potential of Ethereum and its role in the cryptocurrency world was discussed.
One of the focal points of the debate was Bitcoin mining company Bitmine Immersion’s shift to holding Ethereum as a treasury asset, a move the company described as an “asset-light” model that doesn’t require capital expenditure.
Lee’s company, Funstrat, is also reportedly working with the ETH Foundation to encourage Wall Street to embrace the new technology. Lee emphasized the importance of using blockchain to make Wall Street faster and more efficient, saying that much of this is happening on ETH.
He noted that companies like Robinhood are using ETH for tokenized products, particularly thanks to Ethereum’s smart contract platform and Ethereum Virtual Machines (EVMs) for smart programs and contracts.
He also reported that 60% of the stablecoin boom occurred in ETH and that the network value could rise from $250 billion to $4 trillion.
It was also stated that ETH offers a 3% local yield thanks to its Proof-of-Stake model, and Bitmine’s $6.6 billion Ethereum holdings have the potential to generate more than $200 million in net income.
Tom Lee predicts there’s a 50% chance Ethereum’s network value will surpass Bitcoin’s within a few years. He said he thinks ETH is going through a period similar to 1971, the year the US dollar left the gold standard.
*This is not investment advice.
