Tom Lee, the chairman of BitMine, predicted on 10/17 during the ARK Invest program that the global encryption market capitalization could reach 27 trillion USD by 2030, and the market capitalization of digital asset custodial company DAT could exceed 5 trillion USD. At the same time, he believes that the fair price of BTC will fall between 1.5 million and 2.1 million USD, while ETH will challenge 60,000 USD. He then pointed out that with regulatory easing and institutional funds pouring in, DAT will become a bridge between on-chain and Wall Street, and Ether reserve companies are also expected to join the ranks of large-cap stocks in the US market, becoming a new focus of the market.
Transformed in three months, from a miner to the world's largest ETH reserve enterprise.
Tom Lee reflected that about three months ago, after taking over as chairman of BitMine, he led the company to transform from a Bitcoin mining enterprise into an “Ether reserve company.” Currently, a small amount of BTC mining business is still retained, but the company's main assets have been converted to ETH.
He revealed that in just 12 weeks, BitMine has accumulated 2.8 million ETH, and the latest data has reached 3.03 million ETH, equivalent to approximately 1.35 billion USD. He stated that the current goal is to increase the holding scale every day, allowing the amount of Ether held per share of BitMine to continuously grow for shareholders.
Before the deadline, the total amount of ETH held by BitMine reached 3.03 million coins, ranking first among ETH reserve companies. The strong get stronger situation of DAT has led to BitMine and Strategy monopolizing nearly 90% of the trading volume.
Tom Lee pointed out that there are currently about 70 Ethereum DATs globally, but the market is showing a “the rich get richer” situation.
He stated that BitMine has a daily trading volume of up to 2.5 billion USD, ranking 28th among the most active stocks on the US stock market. Combined with Strategy, the two companies account for 86% of the global trading volume of cryptocurrency reserve companies, becoming the main channel for institutional investment, leading him to believe that only a few leading companies will survive in the future.
Does DAT violate the spirit of decentralization?
During the program, Cathie Wood, founder of ARK Invest, asked whether DAT goes against the spirit of “decentralization.” Tom Lee explained that many large investment institutions are restricted by regulations and cannot directly hold tokens; DAT is a compliant way to “wrap tokens through a corporate shell.”
He stated that this allows traditional financial funds to indirectly participate in blockchain, while also establishing a bridge with the Ethereum Foundation (EF) and DeFi projects. He further believes that DAT will become a “bridge between on-chain and Wall Street” and is a direct product of the regulatory shift towards openness in 2025.
Predicted encryption market size of 27 trillion dollars, with DAT sector market capitalization reaching 5 trillion dollars.
Regarding the future market size of encryption and the market capitalization forecast for DAT stocks, Tom Lee stated that by 2030 the overall encryption market size could reach 27 trillion dollars, with about 15% to 20% potentially falling within DAT, reaching a scale of approximately 5 trillion dollars.
He used Strategy as an example, stating that the current market capitalization of Strategy is about 100 billion USD, plus the 15 billion USD debt formed by borrowing to buy coins ( corporate bonds, convertible bonds ), making the total market capitalization about 115 billion USD. If BTC rises to 2 million USD in the future, then Strategy would become a company with a market capitalization of about 2 trillion USD.
Tom Lee also believes that under such circumstances, ETH could rise to 60,000 USD per coin, and the expansion effect of NAV will drive the market capitalization of DAT-related stocks.
The fair price of BTC is expected to reach 2.1 million, while ETH is likely to break 60,000.
Tom Lee finally stated that, based on his long-term view of BTC price trends, he believes the “fair price” of BTC should be between 1.5 million and 2.1 million dollars. In the same market scenario, ETH is expected to reach 60,000 dollars, which is about 15 times the current price.
He emphasized that as the price of ETH rises in tandem with the per-share coin holding of reserve companies, these Ether reserve companies will directly amplify their profits and are highly likely to become a new generation of financial instruments among the top in market capitalization in the U.S. stock market.
( BitMine holds 3.03 million Ether, the data black box is not worth the premium BMNR has been shorted )
This article Tom Lee: By 2030, the market capitalization of DAT is expected to exceed 5 trillion dollars, and ETH will challenge 60,000 dollars. First appeared in on-chain news ABMedia.
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