Tom Lee: Crypto Bull Market Started in Late June, Institutions Still Underweight
- —Bitmine holds over 6 million ETH, roughly 5% of total supply
- —The accumulation took less than 15 months
- —ETH has outperformed other macro assets by 6,728 basis points quarter-to-date
- —Lee expects institutional demand to rise before year-end
Why it matters: Comments from the largest ETH treasury company and signs of institutional under-allocation reinforce the bullish narrative for Ethereum.
Source: PANews