Tom Lee said at Token2049 that the market is at the start of a supercycle and that everything running on traditional finance will be tokenized over the next 10 years. He added that most traditional financial institutions will build on Ethereum, naming BlackRock, JPMorgan, and Robinhood as examples. Lee also reiterated his bullish view on ETH and BMNR during the event. In his remarks, he argued that investors positive on ETH should also be positive on Bitmine, saying the company is designed to outperform base assets such as BTC and ETH during this cycle. He also outlined price scenarios tied to Ethereum: if ETH reaches $22,000, Bitmine shares could rise from $26 to $300-$500; if ETH reaches $62,000, Bitmine could climb to $1,200-$1,500.
Tom Lee said at Token2049 on Oct. 7 that the market is at the start of a supercycle and that everything running on traditional finance will be tokenized within the next decade.
He said most traditional financial institutions will build on Ethereum, naming BlackRock, JPMorgan, and Robinhood.
Lee also reiterated his bullish stance on ETH and BMNR at the event. 「If you are bullish on ETH, then you should also be bullish on Bitmine. Bitmine is built to outperform base assets like BTC and ETH in this cycle.」
He also gave valuation scenarios for Bitmine tied to Ethereum's price. If ETH rises to $22,000, Bitmine's share price would move from $26 to $300-$500. If ETH rises to $62,000, Bitmine would rise to $1,200-$1,500.
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