- Michael Saylor says Tom Lee brings Ethereum credibility.
- Lee did to ETH what Saylor did for BTC.
- Will the price of ETH go on to hit Lee’s bullish ATH targets this cycle?
Bitcoin had been the only crypto asset that held credibility in the eyes of the greater masses due to its being adopted and held as a legal tender by countries like El Salvador and by large asset managers and financial institutions like Michael Saylor’s Strategy and BlackRock. Now, ETH too is gaining that recognition, and Michael Saylor says that Tom Lee brings Ethereum credibility, will ETH price hit Lee’s bullish predictions?
Michael Saylor Says Tom Lee Brings Ethereum Credibility
When it comes to crypto, Bitcoin and Ethereum are seen as the pioneer crypto assets and the pioneer altcoin assets. These assets are arguably the most recognized and respected crypto assets in the world. Even those not familiar with the crypto industry will be able to recognize these names. However, once upon a time, Bitcoin was the only name that the greater masses would identify. What changed?
The reason Bitcoin got its recognition among the community was because it was the first and only crypto asset, and it revolutionized the world as we know it. However, when Ethereum entered the arena, it brought a lot more possibilities along with it, starting with making changes outside of the financial world, where BTC was limited to, but none of these made sense to the general masses.
What really brought the names of BTC and ETH to the entire world was the fact that they became credible options to recognized and respected firms and entities in a world that already knew their names. For instance, with BTC, the asset was adopted as a legal tender by the nation of El Salvador, its President Nayib Bukele, used Bitcoin to change the country for the better, using BTC profits to improve the lives of its people.
Can ETH Price Hit Lee’s Bullish Predictions?
From there, entities like Strategy and BlackRock began to buy and hold Bitcoin. The change came when large asset managers across the world started to buy ETH as well. Then, ETH too started to become a credible resource for wealth and stability. But the entity that really brought this legitimacy to ETH was Tom Lee’s leadership of Bitmain Immersion. This entity swapped all its BTC to ETH and is holding strong.
Tom Lee continues to hold ETH and aims to hold 5% of the total supply, much like Saylor buying ETH under Strategy. As we can see from the post above, Saylor states that Tom Lee brought credibility to ETH and calls Lee the most visible, influential spokesperson in the entire Ethereum ecosystem, something Lee did in a matter of months, maybe even weeks. Lee expects ETH to hit $60,000 soon.
