After a period of prolonged stagnation, Ethereum seems to find its value. Partly, Ether’s success on the market can be awarded to the actions of Wall Street analyst Thomas Lee, who launched an Ethereum treasure after joining Bitcoin Mining Company Bitmin. Some even baptized Lee a Savior Ethereum. Who is it? Will he drag Ethereum out of the crisis?
Leader of Ethereum
Lee is a financial analyst, a frequent speaker on CNBC and the IOC of the Heritage Management Society Fundstrat, which he co -founded.
He also has training at JPMorgan and regularly appears in financial publications.
What is more important during the discussion of the impact of Lee on Ethereum is that last month, he was appointed president of a Bitcoin operating company negotiated in Nasdaq, Bitmine Immersion Technology. The company quickly created a large -scale Ethereum cash company on the arrival of Lee, and it has become the company leader.
Lee’s news guaranteeing the position and the announcement of the Ethereum pivot accompanied by an important peak in the price of the binminal stock (BMNR), which increased from $ 48 to $ 48 in several days. On July 3, the prize briefly crossed the $ 160 mark.
Lee is an eminent supporter of Crypto with a strong reputation for Wall Street, so making it supervise an Ethereum treasure was considered the potential engine of the recovery of the ETH.
1 billion dollars of ETH in seven days
Lee apparently follows the traces of the co-founder of Microstrategy (strategy), Michael Saylor, who has managed to accumulate more than 600,000 bitcoins in five years, making it the largest BTC treasure in the world.
On the other hand, Lee bets on ETH – now the main metric of BMNR value.
To highlight Bitmine’s ambitions, it should be noted that the company bought a billion dollars of ETH in seven days. Lee notes that Microstrategy bought $ 250 million in Bitcoin in seven days.
Bitmin’s goal is to buy around 6 million ETH from the 120.7 million offer. He will give Bitmine a 5% participation in the asset network and will make the company the second ETH (and Staker) holder after Lido, which currently holds 9,100,000 ETH.
Various large companies provide species to invest in Bitmin, stimulating its potential for continuing the Ethereum allowance. The list includes Mozayyx, Pantera, Falconx, Kraken and others.
Why did Lee chose Ethereum?
Bitcoin has established a solid reputation as an actor that appreciates long -term value. As Bitcoin lovers said, “no one has ever lost money after hearing Bitcoin for four years.” Bitcoin’s scarcity and decentralization have made it an asset sought by companies, nations, financial institutions and retail investors.
Ethereum is a different thing. Although it was the second largest cryptocurrency in terms of market capitalization for most of its existence since its launch, its price has stagnated, in particular compared to the cost of bitcoin, and the progress of the network updates have often been criticized. The Ethereum Foundation was examined for sold Ethereum. And in 2024, Solana became an eminent competitor of Ethereum.
Just as Saylor was among the first adopters of Bitcoin, Lee wanted to be among the first to accumulate Ethereum, before anyone. The role of digital assets as a dorsal spine for a large market of stablescoin, combined with the upward trend in tokenization, will only improve the prominence of Ethereum. Currently, it is the largest platform adapted to the construction and accommodation of tokens.
Lee says that these days, the stablecoins know the “chatpt moment” in cryptocurrencies, so he hopes that the viral popularity of stablecoins will increase the growth of Ethereum. The Genius Act, signed by President Trump on July 18, and the IPO of Circle will promote the adoption and popularization of stablecoins.
In addition, Lee quotes the interest of Mastercard and various banks for stablescoins as a catalyst for Ethereum. In a CNBC interview on June 30, Lee said:
“You know, when Goldman emits a stable room and Jpmorgan makes Ethereum as a layer blockchain, they will want to secure it by stampening Ethereum. We are therefore trying to put ourselves in front of this by creating a treasure.”
Lee stressed that the stablecoins are the 12th world holder of treasury bills. He believes that at one point, they will become the largest holder, and this will transform them into a tool to maintain the global domination of the USD. In addition, Lee notes that the growing market for stablescoin will generate many transaction costs for his business.
It should be said that Lee is not the only leading figure that works for Bitmin. On July 16, it was revealed that the billionaire Peter Thiel, co-founder of Palantir and Paypal, had a 9% stake in Bitmin. Several other Ethereum treasury bills have already emerged, while ETF ETF entries hover.
The future of Ethereum
Generally, it is not correct to attribute Ether’s success only to Lee, because it would not be correct to attribute Bitcoin’s growth to Michael Saylor’s activity when there are important players like BlackRock on the ground. Thus, Lee is rather a “Saylor by Ethereum” than “Savior d’Ethereum”.
There is no way to determine whether the bet of Lee on Ethereum is worth it; In the past, he has made various predictions that have proven to be correct, but only time will tell us if he is right on ether.
