From Wall Street "Oracle" to Ethereum Microstrategy Creator

Recently, a company named Bitmine acquired 833,000 Ethereum in just one month, accounting for approximately 1% of the total supply, making it the largest publicly listed holder of Ethereum in the world. The company's goal is to hold 5% of the total supply of Ethereum, attempting to become the "MicroStrategy" of the Ethereum space.

Tom Lee, the founder of Bitmine, was a well-known analyst on Wall Street. In an interview, he elaborated on his views regarding Ethereum and why he believes Ethereum is experiencing a pivotal moment similar to Bitcoin's in 2017. Here are the main points from the interview:

Tom Lee stated that Bitmine rapidly acquired a large amount of Ether in just 27 days. He believes that Ethereum is one of the biggest macro trading opportunities in the next decade and hopes to acquire more before the price rises.

Regarding the recent emergence of multiple Ethereum treasury companies, Lee believes this reflects the market's recognition of the Ethereum asset strategy. Ethereum's staking mechanism allows asset companies to possess the attributes of a real business entity, and through staking, they can obtain earnings that comply with accounting standards.

Bitmine's goal is to acquire 5% of the total supply of Ethereum. Lee expects that at the current purchasing rate, it may be achieved within 1-2 years. He emphasizes that Bitmine is fully compliant, meets regulatory requirements, and contributes to making Ethereum the main blockchain for financialization on Wall Street.

Lee believes that Ethereum asset companies are not only alternatives to ETFs but also key infrastructure in the ecosystem. They support the network through methods such as staking and play important roles in areas like finance and artificial intelligence.

Regarding the reasons why Bitmine's large-scale purchases did not boost the price of Ethereum, Lee stated that short-term price trends do not fully reflect fair value and may be influenced by various factors. He believes that Ethereum is experiencing a Bitcoin moment similar to 2017, with unprecedented interest from Wall Street.

Lee is optimistic about Ethereum's potential in areas such as blockchain financialization and artificial intelligence. He believes that Ethereum asset companies are the best way for institutional investors to access Ethereum, explaining why some top investors have made significant investments in Bitmine.

Regarding the valuation of Bitmine, Lee stated that multiple factors should be considered, including net asset value, staking yields, purchase speed, and liquidity. He emphasized that Bitmine's extremely high liquidity allows it to maintain a fast Ethereum purchase speed.

Lee believes that Ethereum is in a phase similar to Bitcoin in 2017, where Wall Street is starting to value its stability and potential. He expects the price of Ethereum to reach $4000 in the short term, and possibly $7000 to $15000 by the end of the year, with significant long-term growth potential.

Regarding concerns about bubble risks, Lee stated that the current general skepticism in the market towards crypto assets precisely indicates that we are far from reaching the top. He believes that a true bubble forms when there is widespread bullish sentiment, not amidst general doubts.