Lee Predicts Bitcoin, ETH Resurgence: Fundamentals to Outrun Price
Tom Lee believes it's only a matter of time before Bitcoin and Ethereum resume their growth. He made this statement in response to Hunter Horsley, CEO of Bitwise, who noted that after eight years in crypto, he is seeing substance outpacing price for the first time ever. According to Horsley, crypto is transforming the financial system and its adoption cannot be stopped.
'Fundamentals are pulling away because investors got burned on the Oct 10 massive deleveraging,' Lee wrote. 'It's just a matter of time.'
Lee's optimism comes as former Ethereum Foundation staffers launched Ethereum Institutional in July to serve as a bridge between banks and the Ethereum ecosystem. The initiative received backing from Ethereum co-founder Joseph Lubin and Bitmine Chairman Tom Lee, with over 100 ecosystem participants joining the funding round.