- Tom Lee says Ethereum is where Wall Street and AI converge.
- He and Bitmine Immersion continue to accumulate more ETH.
- It already holds 1% of ETH and aims to hold 5% of ETH soon.
Tom Lee, chair of the Bitmine Immersion board makes another bold statement about Ethereum (ETH), showing his immense faith in the crypto and blockchain project. In detail, Tom Lee says Ethereum is where Wall Street and AI converge. The pioneer altcoin blockchain network, Ethereum has grown significantly since its debut a decade ago, and is now gaining a lot of recognition by treasuries and financial institutions.
Tom Lee Says Ethereum Is Where Wall Street and AI Converge
The reputed financial expert Thomas Lee, also known as Tom Lee, has made many bold statements pertaining to the pioneer smart construct blockchain network Ethereum (ETH). This network introduced NFTs, DeFi protocols, blockchain gaming, and so much more by being the first blockchain to introduce smart contracts, which brought infinite potential to the web3 world, changing the world as we knew it.
When it first made its debut, the Ethereum network followed a Proof-of-Work (PoW) protocol which meant high fee and long congestion times as more users joined the blockchain, so its creator, Vitalik Buterin, launched a detailed plan to boost speed and scalability whilst also reducing gas fees. This plan included Ethereum 2.0, a gradual shift that would make Ethereum a Proof-of-stake (PoS) protocol network.
Since this shift, which was completed after a long wait, the Ethereum blockchain grew even more popular than it already was. The network’s legacy, decentralized nature, and security makes it a prime option for institutional adoption. So popular has Ethereum (ETH) gotten that financial institutions have begun to aggressively and heavily accumulate ETH this bull cycle, with a shift of greater ETH accumulation in comparison to BTC.
Bitmine Immersion Continues to Accumulate ETH
One such entity, accumulating ETH at an increasingly busy pace in Bitmine Immersion, headed by Tom Lee. Lee believes that Ethereum has the potential to hit $60,000 this bull cycle. In fact, he has mentioned before that ETH will likely hit an ATH of $15,000 or $16,000 by the end of this year. Thus, Bitmine Immersion has been heavily accumulating ETH with the intention of holding a total of 5% of its total supply.
As we can see from the post above, Tom Lee says Ethereum is where Wall Street and AI are converging. Many believe that ETH has a crucial role to play in the successful future of the web3 industry. While Lee has acknowledged BTC’s perks as well, he still shows greater reverence for BTC and has shown faster ETH accumulation rates in comparison to Michael Saylor’s BTC accumulation strategy.
