In a broadcast featuring Tom Lee, the potential of Ethereum and its role in the cryptocurrency world was discussed.
One of the focal points of the discussion was Bitcoin mining company Bitmine Immersion changing its strategy to start holding Ethereum as a treasury asset. This move by the company was seen as an 'asset-light' model that does not require capital expenditure.
It was stated that Lee's company Funstrat is also working with the ETH Foundation for Wall Street to adopt the new technology. Lee highlighted the importance of using blockchain to make Wall Street faster and more efficient, stating that much of this is happening on ETH.
He emphasized that companies like Robinhood are using ETH for tokenized products thanks to Ethereum's smart contract platform and Ethereum Virtual Machines (EVMs), especially for smart programs and contracts.
He also noted that 60% of the stablecoin explosion occurred in ETH and that the network value could rise from 250 billion dollars to 4 trillion dollars.
It was noted that ETH also offers a 3% local yield thanks to the Proof-of-Stake model, and that Bitmine's 6.6 billion dollars worth of Ethereum has the potential to generate over 200 million dollars in net income.
Tom Lee predicts that the likelihood of Ethereum's network value surpassing Bitcoin's within a few years is 50%. Tom Lee mentioned that he believes ETH is going through a period similar to 1971, the year the US dollar abandoned the gold standard.
Stay tuned for the latest developments.
