BitMine’s Chairman, Tom Lee, has shared his perspective on the recent surge of crypto-focused treasury companies and the future of this multi-billion-dollar trend.
Discussing the need for this alternative type to get exposure to crypto assets, Lee argued that DATS “are not just passive vehicles,” and properly executed companies will get capital and be supported by investors.
He noted that companies like Strategy and BitMine, the two largest crypto treasuries in the world, both see several billion dollars of daily trading volume, adding that “the two companies combined are 86% of all trading volume for the DATs.”
Nonetheless, BitMine’s chair explained that instead of questioning if a bubble has burst, he prefers asking if the market has become discerning, which he thinks it already has.
Lee argued that, while other crypto treasuries have not been creators of shareholder value, BitMine is “not just a DAT,” but also the largest holder of Ethereum (ETH) in the world.
According to Lee, this gives BitMine multiple roles, including providing a significant amount of security to the Ethereum network. Based on these roles, he considers the company is “essentially a liaison between how Wall Street views future upgrades to Ethereum, to the community.”
“So we’re not just a DAT. We’re becoming, you know, one of the important voices within Ethereum, and that really was our goal. You know, that’s why, when BitMine was created,” he said.
As a result, he considers that “Ethereum remains the premier choice given its high reliability and 100% uptime.” During the Podcast, BitMine’s chairman reaffirmed this stance, stating:
“The tokenization of everything else, (…), is in the quadrillions. You know, especially as AI moves towards micro payments, which need to happen on the blockchain. That to me is a bigger opportunity, and (…) Ethereum is where a lot of this is going to be built. (…) So to me, there’s still an exponential opportunity in owning ETH over Bitcoin,” Lee concluded.
