The World’s Largest ETH Holder - Tom Lee on Treasuries, Ethereum Dominance, and Wall Street

In this episode of Bankless, Tom Lee, Chairman of Bitmine, discusses the launch of his ETH treasury company and its strategy to acquire 5% of the total ETH supply. He draws parallels to MicroStrategy's Bitcoin treasury strategy, emphasizing Ethereum's potential as a macro trade and its role in the financialization of the blockchain and AI. Lee explains why ETH treasury companies are critical infrastructure, offering staking yields and compliance, and highlights Bitmine's unique advantages, including its pristine balance sheet and high liquidity. The conversation explores the MNAV premium for crypto treasury companies, the potential for a sovereign put strategy for Ether, and the reasons why Wall Street is increasingly interested in Ethereum. Lee shares his insights on the current undervaluation of ETH, comparing it to Bitcoin in 2017, and offers price predictions for the near and long term, suggesting that Ethereum could potentially flip Bitcoin in terms of network value.