Tom Lee Says Robinhood Chose Ethereum for Security, Liquidity
Summary
- Tom Lee said Robinhood chose Ethereum as its infrastructure base because of the network’s security and liquidity.
- He said Robinhood placed greater value on deep liquidity and proven security, rather than low fees.
- Lee said Ethereum is evolving into a store of value, or SoV, with the potential for future price appreciation.
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Tom Lee, chairman of BitMine, the world’s largest corporate holder of Ethereum reserves, said Robinhood chose Ethereum as the blockchain foundation for its infrastructure because of the network’s security and liquidity.
In a recent interview, Lee said Ethereum’s value now extends beyond simply offering low transaction fees, according to Odaily on September 24.
He said Ethereum does not need higher gas fees or a larger share of revenue from projects on the network to continue growing. Robinhood chose Ethereum as the foundation for its blockchain business not because of low fees, but because it valued the network’s deep liquidity and proven security.
Lee also said Ethereum’s role as an asset is changing. He said Ethereum is increasingly evolving into a store of value, or SoV, and that users hold it because it has real-world utility and the potential to gain value over time.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul