BiyaPay analyst: US listed company BitMine continues to rise, Tom Lee says Ethereum is at a critical moment with a target price of $15000

BlockBeats News: On August 8th, Tom Lee, the new chairman of BitMine, a US listed company, recently stated that Ethereum (ETH) is at a critical moment similar to Bitcoin in 2017. As Wall Street's attention to cryptocurrencies gradually increases, Lee believes that Ethereum is becoming the core platform in the process of "tokenization" in the financial market, and is expected to be one of the biggest macro trading events in the next decade. Lee specifically mentioned that Ethereum should not be compared to Bitcoin, but rather compared to traditional financial markets. If he had to choose between Bitcoin and Ethereum, he would prefer ETH. On August 2nd, BitMine Chairman Lee pointed out that traditional financial institutions are steadily and quietly increasing their holdings of cryptocurrencies, especially Ethereum, thanks to its legal clarity and technical reliability, and Ethereum has never experienced a crash, which is crucial for banks and other institutions. At present, BitMine holds 625000 ETH, with a total asset value of nearly 2.8 billion US dollars and almost no liabilities. At the same time, the company announced a $1 billion stock repurchase plan and reiterated its goal of accumulating 5% of the total supply of Ethereum. Lee also stated that if the Federal Reserve's monetary policy changes, especially with interest rate cuts, Bitcoin could soar to $250000. Based on the fundamentals of Ethereum, he believes that the reasonable price for ETH should be $15000, while the current price is around $3700. For cryptocurrency investors, the BiyaPay platform provides users with a seamless trading experience. The platform supports the mutual exchange of over 200 cryptocurrencies such as BTC and ETH, and offers zero transaction fees for spot and contract orders, allowing users to enjoy the advantage of low costs during the trading process.