Tom Lee Reaffirms Support for Ethereum: BitMine May Only Need to Hold Less Than 5% of Total Supply Due to Contraction

BlockBeats News, June 11th. At the DACFP conference for investment advisors, Tom Lee stated that the current financial system is built on a multi-layered tech stack, with a large amount of "false or fraudulent transactions." He mentioned that Ethereum (ETH) and Bitcoin (BTC) have never experienced fraudulent transactions at the blockchain level, and that blockchain operates at a lower cost.

Tom Lee further noted that investing in blockchain is similar to holding real estate assets, and in the future, "Agent-based AI" will rely on blockchain for higher speed and prevention of system failure. He also mentioned that the ETH supply is shrinking, and BitMine may not need to hold more than 5% of the total ETH supply.

Additionally, he stated that BitMine may be included in the Russell 1000 index by the end of June, which could bring price stability support, and he referenced the company's holdings in MrBeast-related financial firms.