Bitmine’s Tom Lee Says Tokenization ‘Supercycle’ Is Starting, Sees TradFi Fully Tokenized Within 10 Years
Summary
- Tom Lee said a tokenization supercycle will unfold over the next decade, with traditional finance broadly becoming tokenized.
- He said most traditional financial institutions will build financial services and infrastructure on Ethereum (ETH).
- He said Bitmine shares could rise to $300 to $1,500 if Ethereum climbs to $22,000 to $62,000.
Tom Lee, chairman of Bitmine, the world’s largest corporate Ethereum treasury company, said a tokenization “supercycle” is beginning and that all of traditional finance, or TradFi, will be tokenized within the next decade.
BlockBeats reported on October 7 that Lee made the remarks at the Token2049 conference in Singapore that day. “We are at the beginning of a supercycle,” he said. “Everything operating in traditional finance will be tokenized within the next 10 years.”
Lee added that most traditional financial institutions will build financial services and infrastructure on Ethereum. He also voiced optimism on both Ethereum and Bitmine. “If you are positive on Ethereum, you should also be positive on Bitmine,” Lee said. “Bitmine is aiming to outperform the returns of underlying assets such as Bitcoin and Ethereum in this cycle.”
He said Bitmine shares could jump to $300 to $500 from about $26 if Ethereum climbs to $22,000. In a scenario where Ethereum rises to $62,000, Bitmine stock could reach $1,200 to $1,500, according to Lee.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul