June 30 Tom Lee of Fundstrat became chairman Bitmin (Freshly taken: BMNA)And with his arrival, a noticeable turn of the business strategy appeared. Bitcoin The mining company finished a private location for $ 250 million and it used that money to buy Ethereum (Crypto: Eth);
It is surprising that Bitcoin Mining Company is investing in a different cryptocurrency. However, just a month later, Bitmin is the largest Treasury Treasury company in the world with a worth of $ 2.1 billion worth of dollars (July 28). Finally, Lee wants Bitmin to keep 5% of the total Ethereum supply, which is more than $ 20 billion at current market prices.
Barking for Ethereum has been well done so far. From 30 June This increased by 53%, much more than 10% of Bitcoin returns in the same time. And Lee, who loudly appreciates cryptocurrency, believes that Ethereum can rise even higher.
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In an interview with CNBC Lee, he told about what led to Bitmino’s position in Ethereum. The cryptocurrency and financial industry, once opposites of Polar, is becoming increasingly related, which is partly encouraged by Stablecoins growth.
Stablecoins are cryptocurrency tokens to maintain the same value as other assets, often Fiat currency. For example, the biggest Stablecoins, Tied and USDCBoth are linked 1 for $ 1.
The Stablecoin market is more than $ 260 billion compared to $ 120 billion 18 months ago. British Bank Standard ordered By 2028 Projects can grow up to $ 2 trillion, while US Treasury Secretary Scott Bessent agrees that this can happen with legislative support. Recently, the US has been adopted by Genius Act, an important cryptocurrency law governing Stablecoins, and several financial companies starting with their Stablecoins, are likely to continue to grow.
This is the good news at Ethereum as it is the most popular Blockchain platform for Stablecoins. Ethereum Blockchain is about $ 133 billion at Stablecoins, which is just over 50% of the total market. The use of these brakes essentially contributes to Ethereum tax revenue. It has earned $ 6.4 billion in taxes in recent years from Tether and $ 1.9 billion from The wheela company that issues USDC.
It looks like Ethereum is chosen for Blockchain financial institutions engaged in Stablecoin. Paypal launched his Stablecoin, PayPal USDon Ethereum. JP MorganAlso chose Ethereum for its Stablecoin pilot, JP Morgan’s contribution token;
Lee believes that Ethereum’s long-term value is the blockchain platform-and he does not think the current price accurately reflects this value. As for this last week, he said: “Our conviction is that Ethereum is dramatically underestimated. So acquiring property that can be estimated 10 times or more is a really good use of the treasury. “
He also mentioned the price goals based on the Fundstrat analysis. When July 19 Ethereum traded around $ 3,500, LEE said that by the end of the month, $ 4,000 was the real goal of the nearest period. We are not too far away, but Ethereum is $ 3,800. He also mentioned that Ethereum could reach between $ 10,000 and $ 15,000 by the end of the year.
The cost of $ 10,000 to $ 15,000 would mean that Ethereum increased from 160% to 300%. This would make up the top of its market from 1.2 trillion to $ 1.8 trillion. Although it is a noble projection, it is certainly possible to cryptocurrency on a hot stretch. For example, Bitcoin has added $ 1 trillion to the upper limit of its market at the top of its market last year.
Ethereum could certainly continue to grow and may be able to meet the ambitious expectations of Lee. It is the most widely accepted Blockchain platform. Ethereum ETFS revenue increases and just reached $ 7.8 billion a year. Bitmin’s success can also rise in Ethereum Treasury companies, much like as Strategy (Formerly known as MicrostrateGy) has led to more Bitcoin Treasury companies.
But Ethereum also faces other Blockchain platforms, including SolanaIs it Troneand Cardano; In addition, the Stablecoin market may not grow as fast as many expect. JP Morgan disagrees with the $ 2 trillion dollars at Stablecoin market ratings by 2028, instead of predicting that it would reach $ 500 billion.
I carefully optimistic about the future of Ethereum, based on how widely used it is and I have it in my cryptocurrency portfolio. If you are going to invest, remember that Ethereum and Cryptocurrency are generally very unstable. Just invest the money you can afford to lose and be prepared for dramatic price fluctuations.
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Lyle Daly holds Bitcoin, Cardano, Ethereum, Solana, Tether and USDC. The Motley fool is a position and recommends Bitcoin, Ethereum, PayPal and Solana. The Motley Fool recommends Standard Charterred Plc and recommends the following options: 2027. January $ 42.50 PayPal calls and short 2025. September $ 77.50 PayPal calls. The Motley fool has a disclosure policy.
Wall Street Strategist Tom Lee Betties Better $ 250 million to increase this cryptocurrency (hint: no bitcoin)
