News
Digital asset treasury stocks surged on Monday, led by BitMine, even outpacing the broader crypto market’s gains as institutional ownership increased.
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Tom Lee News
Thomas Lee co-founded Fundstrat — an independent research company. A Wall Street strategist who is well known for his positive attitude toward Bitcoin (BTC), Fundstrat’s Tom Lee has commented on Bitcoin’s price many times over the years, sometimes giving specific price expectations. The Bitcoin bull boasts stock market research expertise spanning decades. Lee put in 15 years of work at JPMorgan Chase before Fundstrat.
According to Tom Lee, Bitcoin is only profitable to buy and sell 10 days per year — otherwise, he advises to just buy and hold it. Tom Lee is active on Twitter and has appeared on CNBC many times.
- News
Crypto’s recent slump could be the result of a market maker liquidity crisis triggered by the crypto crash in October, speculates BitMine’s Tom Lee.
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Bulls are struggling to hold Bitcoin price above $90,000, but BTC and altcoin charts suggest new yearly lows are the most likely outcome for cryptocurrencies in the short term.
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Bitwise’s Matt Hougan said a price bottom is coming soon and will present a “generational opportunity” and a “gift for long-term investors.”
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BitMine’s Tom Lee says Ether is set to 100x in the next few years, copying a similar price run by Bitcoin years ago.
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BitMine chairman Tom Lee said he expects Ethereum to enter a supercycle, making the current price an attractive risk vs reward purchase.
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BitMine has $1.5 billion worth of Ether following the market crash, as Tom Lee remained bullish despite saying the DAT bubble may have burst.
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Retail Ether longs surged above 90%, but analysts warn of a potential reversal as technicals flash caution even as institutions keep buying the dip.
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Onchain data suggests that BitMine acquired 104,336 ETH, worth approximately $417 million, on Thursday, as prices fell 20% from their August highs, bringing its treasury to over 2.5% of the total supply.
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Fundstrat’s managing director Mark Newton predicts Ether will head to $5,500 next after bottoming out over the weekend.
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Ethereum co-founder Joseph Lubin said ETH-based digital asset treasuries will become a “Berkshire Hathaway-style” vehicle for the decentralized economy.
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Bitcoin’s volatility may rise after today’s FOMC, but it is unlikely to result in a new directional move, hinting at continued range-bound action for a few more days.
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Fundstrat’s Tom Lee predicts Bitcoin and Ether could surge in the fourth quarter this year on Fed rate cuts and improving liquidity conditions.
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Strategy’s Michael Saylor and BitMine’s Tom Lee are among 18 industry leaders who will look at ways to pass the BITCOIN Act and enable budget-neutral ways to buy Bitcoin.
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BitMine chair Tom Lee said he still expects Ether to eventually reach $60,000, as his firm bought another $65 million in ETH on Thursday.
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