Wall Street’s strategist, Tom Lee, aims to create Ethereum microstrate

Tom Lee de Fundstrat joins a little known bitcoin minor to become the largest holder ether.

Lee, a high -level strategist known for its premonitory bitcoin price forecasts and stock forecasts, was appointed president of the board of directors of Bitmine immersion technologiesMonday to count. The company also announced a private internship of $ 250 million to implement a purchasing strategy around Ether, which it aims to manufacture its main cash reserve asset while continuing its basic Bitcoin operating activity.

Lee’s appointment comes in the middle of a wave of interest around the stablescoins following the successful IPO of the Stablecoin transmitter Circle At the beginning of the month and a positive impulse pushing the potential legislation of the stable through the congress.

“The stablecoins have proven to be the” chatgpt “of the crypto, leading to a rapid adoption by consumers, traders and financial services providers,” Lee said in a statement. “Ethereum is the blockchain where the majority of Stablecoin payments are treated … and therefore, the ETH should benefit from this growth.”

The company will monitor the value of the ether held by share of the company as a key performance metric in the future, added Lee, similar to the Bitcoin metric by microstrategy action “BTC renders”. Bitmin can increase the value of the ETH held by action “by a combination of reinvestment of the company’s cash flows, capital market activities and by the variation of ETH value”, according to Lee.

Companies are increasingly looking at Bitcoin for Cryptographic Treasury Management Strategies. Bitmine joins the Paris Publicly listed platform Gaming SharplinkWho launched a treasury ether strategy in May and appointed the co-founder of Ethereum, Joseph Lubin, president of his board of directors. Defi Development focuses on a similar strategy for Solara token.

Before this transaction, Bitmin Immersion had a very small market value of only $ 26 million with slightly negotiated shares which were down 45% over the year.