How the crypto treasury craze is creating ‘true scarcity,’ says BitMine chairman Tom Lee
Tom Lee reckons investors are overlooking one of the most important trends inside the crypto treasury craze: the aggressiveness with which a handful of companies are buying up Ethereum.
“There’s true scarcity in Ethereum right now,” the Wall Street strategist and chairman of BitMine Immersion Technologies said in an interview with DL News.
But it’s not just the asset — “it’s the velocity at which we’re accumulating it,” he said.
Michael Saylor kicked off a trend that is only getting bigger — buying cryptocurrencies and holding them on a company’s balance sheet. Strategy, the firm he leads, now holds more than 3% of Bitcoin’s total supply, and shareholders have enjoyed a tenfold price appreciation…
