00:00 Speaker A
Now, the next story also a lot of signal and this one’s for Ethereum. So if Western Union was a story about adoption on Solana to some degree and we have obviously been telling you stories about Bitcoin, there’s a huge Ethereum story that we’re not talking about enough.
00:15 Speaker A
Bitmind’s ether buys are catching up to strategies, Bitcoin accumulation pace.
00:23 Speaker A
Actually, Tom Lee was on TV yesterday and we grabbed a clip of it.
00:30 Speaker A
If you guys remember Scrooge McDuck, Duck Tales, right, swimming through his gold vaults. Well, that’s basically what Tom Lee is doing right now with Ethereum.
00:41 Speaker A
So they bought 101,901 more Ethereum this week, $234 million worth. That’s roughly equivalent to what Michael Saylor bought in Bitcoin.
00:54 Speaker A
They now hold basically 5 million ETH, 4.21% of the supply.
01:03 Speaker A
I have 4.21% of the supply and that goal is 5% of all ETH. This is their largest weekly purchase of this entire year.
01:21 Speaker A
So, if you believe that the structural demand that strategy brings to Bitcoin is a boon for future prices, you have to believe the same with Ethereum and Tom Lee. and Tom Lee is the greatest cheerleader of all time, man. This guy will get on TV with a straight face be like,
01:42 Speaker A
Ethereum will be $274,000 per token by last week. And like it won’t even break.
01:52 Speaker A
His hair doesn’t even move. He’s got worse quality hair. Next meme is going to be him as Elvis. Cuz he’s killing it, man.
02:04 Speaker A
But Tom Lee’s been doing this for years, man. He’s just a mega bull. He gets on TV, he tells you markets are going to go up, and if you give him enough time, markets always go up and to the right.
02:18 Speaker A
And he is going to just keep pounding the payment on Ethereum because A, he believes in it and B, because it’s in his best interest.
02:26 Speaker A
Now something he said around Ethereum uh this week was really, really interesting. He called it a wartime store of value. Now, okay. Whoa. Okay, now listen, I believe that Bitcoin is the superior Treasury asset, a true store of value.
02:49 Speaker A
We’ve had arguments over whether Ethereum is, you know, uh is money or whether it’s technology or whatever. I don’t uh pander in that debate. I don’t really view Ethereum and money as that way, but his point here is that it’s a wartime store of value and he pointed at the performance of Ethereum since the war started as his evidence.
03:12 Speaker A
We have Ethereum up depending on the day, 17, 18% since the war started. Bitcoin up about 16 to 20%, roughly equivalent. Gold down 12 to 15%. Stocks trading roughly flat. Ethereum wildly outperforming performing these assets, but of course, as I said, so is Bitcoin. I don’t think that you can point at two months of price action and draw the conclusion that Ethereum is a store of value during wartime.
03:49 Speaker A
But man, is Tom Lee good at creating talking points that people will understand. I mean, if you remember when he first sent Ethereum flying, it’s because he just went on TV, Circle, I think had just IPOed with their stable coin company. And he went on TV and says, Ethereum’s going to capture all the value from stable coins.
04:15 Speaker A
Now crypto people scratch their head and said, stable coins are going to be commoditized, they’re going to be on every chain as we told you, Solana, Ethereum, even all the way down, and even if they’re all on Ethereum, the amount of transaction fees is marginal to send the price flying. So
04:36 Speaker A
he’s great at packaging things in a language that Wall Street and investors will understand, but it doesn’t mean that all of it is yet to come. Regardless though, I hold Ethereum, so keep going, Tom.
