Tom Lee : Ethereum Could Expiode to $10,000 – The Biggest Crypto Move Ahead?

요약 보기

트레저리(DAT) 기업들이 이더리움 등 암호화폐를 지속 매입해 유통량을 줄이며 가격 급등을 유발할 것이라 주장. 할인 거래되는 DAT는 싸게 코인을 사는 효과, 프리미엄 DAT는 자금 조달 후 재매입 가능. ETH DAT가 공급의 약 7% 보유(Hyperliquid DAT 14%). 기관 암호화폐 비중 2~10%로 낮아 4분기 대규모 자금 유입 기대. 토큰화가 은행 수익원이 되고 이더리움이 경쟁 체인 대비 압도적 생태계 우위. 향후 12개월 내 ETH가 $10,000보다 훨씬 높을 것이라 주장. 진행자는 이를 한 매니저의 의견이며 투자 조언이 아니라고 언급.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. People should divide them into two categories. If DAT is trading below the net asset value (NAV), you are buying the cryptocurrency at a discount. So, in a bull market, it's better to buy DAT, because if you don't want to pay, say, 85,000 for Bitcoin, you can buy it for 60,000, right? But those trading above NAV—and I'm sure all DATs will rise above NAV in this bull market—are releasing capital, buying more cryptocurrency, and removing it from circulation.

02. This dynamic will cause a huge price jump. Tom Lee, chairman of Bitmain, says some digital asset management (DAT) companies are trading at a discount. In his example, this means buying Bitcoin for 60,000 instead of 85,000. Why does he think these companies are going to increase the pace of buying? Yes, we just crossed the 6 million ETH mark.

03. It took us 15 months to do this. Most of this process occurred during the bear market period. So I think this is a pretty significant achievement, considering that the crypto market was essentially in "winter." But I think that over the next 12-18 months, all DATs, not just, say, Bitmain, will significantly increase their cryptocurrency purchase volumes.

04. Therefore, I believe that cryptocurrencies that have DAT will perform the best, as these DATs essentially buy the cryptocurrency and take it out of circulation. Ethereum-DAT currently owns a total of 7% of the entire supply. This is larger than Bitcoin-DAT or Solana-DAT. And I can quite imagine that in this growth cycle this figure will reach 15%.

05. Yes , and I think maybe people should divide them into two categories. If DAT is trading below NAV, you are buying cryptocurrency at a discount. So in a bull market, it's better to buy DAT, because if you don't want to pay, say, 85,000 for a bitcoin, you can buy it for 60,000, right? But those trading above NAV—and I'm sure all DATs will rise above NAV in this bull market—are releasing capital, buying more cryptocurrency, and removing it from circulation.

06. This dynamic will cause a huge price jump. I mean, one of the reasons for Hyperliquid's success is that DAT Hyperliquid owns 14% of the supply. So, they keep buying . What happens when they reach 50% of the offer? I mean, the price could go into a parabolic rise, right? Yes. But I think we have three priorities.

07. You know, the first one—we want to maintain maximum exposure to ETH, because, again, I consider Arthur conservative in the sense that in past cycles Ethereum has grown 50–200 times. So, let's say ETH increases 25 times. That's 62,000 ETH. I mean, Bitmain shareholders will make a ton of money just by holding ETH.

08. We also conducted the largest share buyback in the crypto industry: 21 million shares out of 350 million. And this was done in July. We literally marked ...we really set a bottom for Bitmain. This was the bottom for the stock. Many financial institutions already provide clear advice, advisory recommendations on asset allocation, and it ranges from 2 to 10%.

09. If I look at the Fundstrat institutional list, it's maybe 5% or even 2% , which means the vast majority of institutional investors don't have cryptocurrency assets. And it was the best asset in the third quarter by a wide margin. That is, Ethereum grew by 65%. And the S&P is almost at the same level.

10. I think we'll see a huge turnover in the fourth quarter. Well , I think from a financial institution perspective, this is really the next way for financial institutions to grow profits, because tokenization allows the bank—the entire organization—to not only become more efficient, but also to transform the assets that they own.

11. So this is a big opportunity for the banking world, and remember, half of the economy is financial services. So, this literally means that half the world is going online. This is a big opportunity for the crypto industry, and again, banks have been trying to create private blockchains. This hasn't created the liquidity and success it deserves, but those building on public networks like Ethereum have actually seen great success.

12. Mhm. Tom Lee believes that this will be one of the most powerful crypto cycles, with treasury companies, institutions, and banks joining. But the presenters denied it. Some treasury companies have not weathered the bear market, and competitors like Solana and Avalanche are catching up with Ethereum.

13. Arthur Hayes predicted an ETH price of $10,000 by the end of the year. Will Lee's argument stand up to scrutiny? I mean, I'm not sure if you phrased the question correctly , because if you look at all the projects, whether it's JP Morgan or BlackRock, 99% of them are on Ethereum. So, Ethereum has not lost any market share.

14. I don't understand what you mean by they lost share. In fact, I believe they increased their share because if tokenization is the next wave, then there is only one dominant blockchain . Well, you know, every industry is competitive. So I think we should expect competition. First of all , the crypto industry is competing not so much with each other as with traditional finance, right?

15. Uh , and with traditional systems. So, to some extent, Ethereum, Solana, Avalanche, and even Canton—they're all really working towards the same goal and will ultimately represent, you know, a new financial system. But if you look at the depth of development, it's not even close, right? Ethereum is apparently almost 20 times larger than the next largest L1.

16. And if you look at the diversity of staking, which is actually the security of the network, it is incredibly diversified. Uh, there's no concentration there, but again, if you look at other L1s, one organization can provide 70% of security. So, you know, is 70% of one organization's security budget truly a decentralized blockchain, or is it a centralized network?

17. Therefore, I believe that at this point there is no other blockchain as competitive as Ethereum. I wouldn't be surprised. I think this will be one of the largest crypto cycles. So, you know, I don't know if it's going to happen by the end of the year, but in the next 12 months, I think ETH will have much higher prices than 10,000.

18. Here's the argument from four levels, purely from Tom Lee's perspective. Level one, treasury companies. He believes they will increase their purchasing volumes over the next 12-18 months. Level two, discount. In his opinion, treasury with a value below NAV allows you to buy coins cheaper, while those above can issue capital, buy more and remove supply from the market.

19. Level three, institutions. Lee says the vast majority of institutional investors do not hold cryptocurrency, and he expects a huge rotation in the fourth quarter. Level four, tokenization. He argues that this is a way for banks to increase profits. This is the opinion of one manager, not a fact and not investment advice.

20. Lee heads Bitmain, which, according to the host, owns about 5% of Ethereum's supply. So , the real question is not just whether ETH will reach $10,000. And whether treasury companies can really continue to remove supply from the market. Like the video, subscribe to Bitcoin Lens, and turn on notifications.

21. In the comments: do companies drive the price or just follow it? Share this with those who follow crypto treasuries . Thanks for watching, be notified of new Bitcoin analytics and updates in the world of cryptocurrency. See you in the next video.