Investor Tom Lee Says The 'Crypto Spring' Has Begun
Investor Tom Lee Says The 'Crypto Spring' Has Begun Famed investor Tom Lee, who is chair of BitMine Immersion Technologies (NYSE: $BMNR), says a new “crypto spring” has begun. Lee adds that the crypto winter than began last October is finally over and that digital assets should continue running higher in the months ahead. Of course, Lee has a vested interest in the market for digital assets recovering. BitMine is the largest Ethereum treasury firm in the world. More From Cryptoprowl: BitMine currently holds 5.18 million ETH, roughly 4.29% of the token's total supply. The company aims to own 5% of all the Ethereum in the world. BitMine’s total cryptocurrency and cash holdings now stand at $13.1 billion U.S. Lee’s bullish comments on Ethereum come with the cryptocurrency’s price trading near the key level of $2,400 U.S. The price of ETH has risen 15% in the past month. Lee says that crypto markets have now overcome a “mini-winter” that lasted about six months. “Crypto Spring, in our view, has commenced and like past cycles, investor sentiment and conviction are muted and bearish even as crypto prices strengthen,” said Lee in a media interview. Lee added that Ethereum is benefiting from two positive trends: the shift of financial assets onto blockchain rails known as tokenization and the rise of artificial intelligence (A.I.) tools. ETH (CRYPTO: $ETH) remains down 20% year-to-date.
