Tom Lee: US Stocks May Have Bottomed This Month, Oil Price Rally Actually a Relative Positive for Stocks
On March 15th, Tom Lee—Chairman of Ethereum Treasury firm BitMine—told CNBC in an interview:
“I think tech has held up pretty well overall, including software stocks. That makes sense to us, but I’ve got a bit of a counterintuitive take: rising oil prices are actually good for U.S. equities. One reason? The U.S. is a net oil producer. When people worry rising oil will drag on global growth, they gravitate toward growth stocks—and that pushes investors into U.S. markets, since the U.S. is essentially a ‘growth index’ itself, especially with the MAG-7 and software sectors leading. So the current market action checks out. I also think the market could be putting in a bottom this month.”
“Private credit issues have been bubbling under the surface for a while—they’re just coming to light gradually now. But I don’t think this is as systemic a problem as the market fears. When problems pop up, people immediately jump to Lehman Brothers and the 2008 financial crisis—but there are key reas
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Gulf Stock Markets Slightly Down as US-Iran Conflict Enters Third Week
Most Gulf stock markets posted slight declines on Sunday, March 15.
Saudi Arabia’s benchmark index dropped 0.8% at one point: Rajhi Bank fell 0.9%, while National Commercial Bank (Saudi Arabia’s largest lender) slipped 1.9%. The Qatar index closed down 0.5%, with Qatar National Bank (the region’s biggest lender) dropping 1.3%. Bahrain’s benchmark fell 0.3%, and Oman’s index declined 0.4%.
The U.S.-Iran conflict has entered its third week. President Trump has threatened further strikes on Iran’s Kharg Island oil export hub, while Iran has vowed to intensify its response. Additionally, three sources familiar with the situation said the Trump administration rejected Middle Eastern allies’ efforts to launch diplomatic talks to end the U.S.-Israel-Iran conflict. Trump also called on allies to deploy warships to help secure the Strait of Hormuz—a critical global energy supply route.
(Golden Finance)
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BitMine: Happy to announce acquisition of Ethereum Foundation's ETH at a negotiated price, will continue to hodl ETH
On March 15, Ethereum treasury firm BitMine announced it has acquired ETH from the Ethereum Foundation at a mutually agreed price to support its operations, adding it will continue accumulating ETH.
Earlier reports confirmed the Ethereum Foundation has finalized an over-the-counter (OTC) transaction for 5,000 ETH, with an average price of $2,042.96 per token—totaling approximately $10.22 million. The OTC counterparty is BitMine, Ethereum’s largest treasury company. Proceeds from the sale will fund the Foundation’s core work, including protocol development, ecosystem expansion, and community grant programs.
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Bitcoin Weekly Return Currently at 8.55%, Setting the Largest Weekly Gain Since September 2025
March 15 – Per data from Coinglass, Bitcoin’s weekly return currently stands at 8.55%, versus a historical average of -1.03%.
Despite the escalating U.S.-Iran conflict and widespread risk-off sentiment in markets, Bitcoin is on track for its biggest weekly gain since September 2025. Over the same period, the S&P 500 has dropped 1.60%, with BTC outperforming the U.S. stock market by a wide margin.
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Trump Calls for Multinational Deployment of Warships to Escort Through Strait of Hormuz, France, Japan, South Korea, UK Respond
**March 15 – No country has publicly committed to former U.S. President Donald Trump’s recent call for nations to send naval ships to escort vessels through the Strait of Hormuz, according to Qatar’s Al Jazeera, which outlined responses from four key countries on Thursday:**
- **France**: The French Foreign Ministry said in an X post it will not deploy warships for the mission, noting its aircraft carrier and accompanying fleet will remain in the Eastern Mediterranean.
- **Japan**: Japanese officials told local media Tokyo will not dispatch warships solely in response to Trump’s call, emphasizing Japan will make decisions independently and that independent judgment is critical.
- **South Korea**: The South Korean presidential office stated it will carefully review Trump’s request and maintain close communication with the U.S.
- **UK**: A UK Ministry of Defense spokesperson told U.S. media the country is currently discussing a range of options with allies and partners to ensure
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