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Tom Lee Reaffirms Support for Ethereum: BitMine May Only Need to Hold Less Than 5% of Total Supply Due to Contraction

2026.06.11 08:12:20

June 11 update: During the DACFP conference for investment advisors, Tom Lee shared insights on today’s financial system, noting it’s built on a multi-layered tech stack rife with false or fraudulent transactions. He emphasized that Ethereum (ETH) and Bitcoin (BTC) have never experienced fraudulent activity at the blockchain level, adding that blockchain operates at a lower overall cost. Lee further compared investing in blockchain to holding real estate assets, predicting that future “agent-based AI” systems will rely on blockchain for faster performance and improved prevention of system failures. He also pointed out that Ethereum’s supply is shrinking, and BitMine may not need to hold more than 5% of the total ETH supply. Additionally, Lee mentioned BitMine could be added to the Russell 1000 index by the end of June—an event that would bring price stability support to the company. He also referenced BitMine’s holdings in MrBeast-linked financial firms as part of his comments.
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