2d ago
BitMine Chairman Tom Lee claims the bubble of digital asset treasury companies may have burst
According to Fortune, BitMine Chairman Tom Lee stated in the Crypto Playbook that several DAT (digital asset treasury companies) have fallen below their net asset value, indicating that the bubble may have burst. BitMine is transforming into a public vehicle primarily holding Ethereum, with a market capitalization exceeding $15 billion and holding over 3 million ETH (approximately 2.5% of the total supply), aiming to increase this to 5% and generate returns through staking while being included in major indices.
Lee stated that Ethereum remains the "blockchain of Wall Street," with BitMine serving as a bridge for institutions to understand Ethereum's upgrades; however, he warned that the influx of more DATs, covering "alt" assets like Dogecoin and Worldcoin, could exacerbate valuation discounts and risks.
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