Crypto market near bottom, says Tom Lee as Bitmine’s Ethereum paper losses hit $6.6bn – DL News
- Crypto’s decline could be coming to an end, says Tom Lee.
- Bitmine is down $6.6 billion on its Ethereum investment.
- Lee gave two reasons for the recent crypto market weakness.
After a week of double-digit losses for Bitcoin and Ethereum, the crypto market sell-off may be running out of steam.
That’s according to Tom Lee, chair of Ethereum treasury company Bitmine Immersion Technologies, who made that case in an interview on CNBC’s Squawk Box on Monday as the paper losses on his firm’s Ethereum stash grew to an eye-watering $6.6 billion.
“All the pieces are in place for crypto to be bottoming right now,” Lee said, adding that he believes the $3.6 trillion industry’s fundamentals are still strong, highlighting growing activity on…
