Tom Lee: Wall Street Quietly Accumulating Ethereum, Price Target to Reach $15,000
On August 2nd, Lee, the new chairman of BitMine, stated that traditional financial institutions are increasingly investing in cryptocurrency in a steady and quiet manner. He mentioned that ETH, the native asset of the Ethereum blockchain, is benefiting from the "tokenization" driven by Wall Street due to its advantages in legal clarity and technical reliability. "Ethereum has never experienced downtime. This is important for banks," he said.
BitMine currently holds 625,000 ETH, with total assets close to 2.8 billion US dollars and almost no debt. Lee also confirmed a $1 billion stock buyback plan and reiterated the company's goal of "accumulating 5% of the total Ethereum supply."
Regarding Bitcoin, the current price is $113,576.36, and it is also becoming a target for institutional investors' regular purchases. Lee believes that if there is a shift in the Federal Reserve's monetary policy, especially with interest rate cuts in the coming months, Bitcoin could soar to $250,000. Lee st
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Insider Suggestion: Propose that a national public blockchain be built under the leadership of a central state-owned enterprise
August 2nd. According to Caixin, an insider stated during an interview regarding stablecoins that currently, there is no globally influential public chain in China. Another insider proposed that a national-level core public chain should be led by central enterprises, while the development of industry-level public chains can be open to market competition.
An insider said, "The public chain is the infrastructure for stablecoin issuance. It is of great significance and indispensable for us to build a self-controllable, safe, and efficient financial infrastructure system for the digital financial era."
A person familiar with the policy remarked, "Stablecoins must be issued on a public chain. The current situation is that, whether in Hong Kong or on the mainland, China does not have a globally influential public chain. If we use a U.S. public chain, we may face future political risks such as Sino-US confrontation and may potentially be 'blocked'."
"Next, we need to strengthen our
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Next Week's Macro Outlook: New York Fed's 1-Year Inflation Expectation, New Tariff Red Line Sparks "Final Battle"
August 2nd: Given the unexpectedly weak job report that was released on Friday, market expectations for a Fed rate cut witnessed a significant surge. Trump's new tariffs will come into effect on August 7th. The US will impose tariffs of at least 10% on all other countries. For countries like Switzerland and India, the punitive tariff rates are 39% and 25% respectively. Some countries may still have the opportunity to negotiate for lower tariff rates.
Monday 22:00: US June Factory Orders on a Monthly Basis;
Tuesday 21:45: US July final S&P Global Services Purchasing Managers' Index (PMI);
Tuesday 22:00: US July ISM Non-Manufacturing Purchasing Managers' Index (PMI);
Thursday 20:30: US Initial Jobless Claims up to August 2nd;
Thursday 23:00: US July New York Fed 1-Year Inflation Expectations.
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Trump Media & Technology Group Q2 Earnings Report: Raises Nearly $2.4 Billion for Bitcoin Treasury Strategy
August 2nd - Lately, the Trump Media & Technology Group declared its Q2 financial report. The financial assets reached approximately $3.1 billion, consisting of cash, cash equivalents, restricted cash, trading securities, and short-term investments, witnessing a year-on-year growth of nearly 800%.
The company successfully raised nearly $2.4 billion for its Bitcoin treasury strategy, enabling it to accumulate around $2 billion in Bitcoin and Bitcoin-related securities by July 2025, thereby becoming one of the publicly traded companies with the largest Bitcoin reserves.
In Q2, the company achieved positive operating cash flow for the first time, with a cash flow from operating activities of $2.3 million. Additionally, the company continued to make progress in its Separately Managed Account (SMA) and Exchange-Traded Fund (ETF) plans, submitting multiple ETF registration statements in the second quarter and subsequent periods, such as the Truth Social Crypto Blue Chip ETF, Truth Social Bit
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Trump's Son: Buying the Dip in BTC and ETH
On August 2nd, Eric Trump, the son of former U.S. President Donald Trump, made a post on social media and stated, "I'll repeat it once more: Purchase during market dips!!! BTC, ETH."
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