Fundstart’s Tom Lee believes that the present cryptocurrency bull market is barely in its early innings even supposing the largest cash by market cap have recorded some spectacular positive aspects.
His reasoning is predicated on the truth that conventional finance remains to be seemingly reluctant to embrace cryptocurrencies.
Morgan Stanley sounding on crypto?
Lee has pointed to the truth that the proportion of European Morgan Stanley interns who personal crypto truly went down dramatically
As reported by U.Immediately, the interns of the distinguished financial institution have ditched each Bitcoin and Ethereum at a speedy tempo over the previous few years. As an example, 63% of them owned the most important cryptocurrency by market capitalization as of 2022. Nevertheless, this proportion has now shrunk to solely 12% in a dramatic reversal.
In truth, XRP is the one token that has seen its possession charges go up over the previous two years (from zero to five%).
Outstanding investor Dan Tapiero beforehand predicted that 2026 could be “a increase 12 months” for cryptocurrencies.
Bitmine’s huge ETH holdings
As reported by U.Immediately, Lee beforehand opined that Ethereum (ETH) is meant to be buying and selling at $6,000 as of now.
Lee’s Bitmine, the largest company proprietor of the flagship atlcoin, has now surpassed a whopping $7 billion in whole holdings, in response to information offered by Arkham Intelligence.
ETH’s new document excessive
Within the meantime, Ethereum (ETH) not too long ago hit one more all-time excessive of $4,945, in response to CoinGecko information.
The flagship altcoin is having fun with an enormous rally on account of sturdy company adoption in addition to extraordinarily spectacular ETF flows.