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Tom Lee, the strategist of the market known for its insight forecasts on Bitcoin (BTC) and the largest prices of cryptocurrencies, has assumed the role of president of the Board of Directors at Bitmine Immersion Technologie Ethereum (Eth).
Tom Lee has appointed President to Bitmine
Lee’s appointment is coupled an ambitious plan to collect $ 250 million in a private positioning aimed at implementing a strategy that positions Ethereum as a reserve activity of the main treasure, while maintaining its nucleus Bitcoin mining operations.
This initiative reflects an growing tendency in the financial services sector, in which the convergence of traditional finance and cryptocurrency is gaining momentum, further highlighted by the decision of President Trump to establish a strategic cryptocurrency reserve.
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Lee highlighted this turn during an apparition in the CNBC “Squawk Box”, affirm“The financial services sector and cryptocurrencies are converging and really started with Stablecoins”.
Lee has compared Stablecoin to the “Chatgpt of Crypto”, underlining their widespread adoption between consumers, companies and financial institutions, including the main actors such as Visa.
It is interesting to note that the Stablecoins obtained a great victory at the congress last week with the passage of Genius act which aims to provide a new regulatory framework for these cryptographic resources.
Transform into a power of the Ethereum treasure
According to Lee, Ethereum acts as a basic architecture for Stablecoin, making it crucial for the bitmine accumulating ETH to influence and protect its position within the network.
The company’s strategy will include the monitoring of the Ethereum value detained for action as a metric for key performance, similar to the “BTC” metric by Strategy’s (Previous Microstratey). Bitcoin.
During his interview, Lee explained that Bitmine plans to improve the value of the HP for action through the reinvestment of cash flows, the activities of the capital market and the appreciation of Ethereum itself.
While multiple companies explore Treasury Management Strategies Oltre Bitcoin, Bitmine is not only in its pivot. It joins other companies such as Sharplink Gaming, which has started its strategy of the Ethereum treasure strategy at the beginning of this year, and Defi Development, which is focusing on Solana.
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This announcement has triggered a serious increase in Bitcoin mining society which started the day with a market capitalization of only $ 26 million. However, after Lee’s interview, the number rose to the stars beyond the sign of $ 200 million.
Bitmine’s actions, exchanged with the name of the Ticker BMNR, also saw a serious increase on Monday by closing the day at $ 33.90 per share. According to Yahoo Finance dataThis means an increase of almost 700% for the actions of the mining company.
On the other hand, Ethereum has retracted 1% below the key level of $ 2,500 in the period of time of 24 hours at its current price of $ 2,470 for token.
First floor image from Dall-E, TradingView.com graphics