Том Ли предсказывает «углубляющееся восхождение» биткоина и Ethereum в IV квартале на фоне монетарного смягчения Tom Lee Predicts Deepening Ascent for Bitcoin and Ethereum in Q4 Amid Monetary Easing

Sensitivity to monetary liquidity, global central banks’ easing policies, and seasonal factors are expected to drive the growth of the two leading cryptocurrencies. This perspective was shared by Tom Lee, co-founder of Fundstrat and chairman of BitMine, during an interview with CNBC.

«I’m anticipating a monumental movement in the next three months, truly significant,» he stated.

According to him, Bitcoin and Ethereum will present «remarkable investment opportunities» by the end of the year, primarily due to a potential decrease in the Federal Reserve’s key interest rate.

Lee drew a parallel to September 2024, when a favorable decision from regulators increased liquidity and investor confidence in cryptocurrencies.

At the time of writing, Bitcoin is trading around $115,800, while ETH is priced at $4,500.

The Fundstrat co-founder also offered insights into Ethereum’s prospects, likening it to Wall Street in 1971—a time when the gold standard was abandoned.

He stated that the second-largest cryptocurrency is benefitting from two trends: the transition of traditional finance into the digital realm and the integration of artificial intelligence into blockchain. Lee referred to Ethereum as a «next-generation growth protocol,» explaining BitMine’s aggressive strategy to accumulate ETH.

On September 15, the company announced that it holds over 2 million coins, worth $9.6 billion.

BitMine is the largest holder of Ethereum among public companies. The top three also include SharpLink Gaming and The Ether Machine, which hold 837,230 ETH ($3.7 billion) and 495,360 ETH ($2.2 billion), respectively.

Strategy announced the acquisition of 525 BTC valued at $60 million in the past week, with an average purchase price of $114,562 per coin.

The company’s total balance has risen to 638,985 BTC, worth over $47 billion at a coin price of $73,913.

Meanwhile, the Chinese company Next Technology Holding, the largest Bitcoin holder in the country, announced a $500 million stock sale, part of which will go towards acquiring cryptocurrency.

The firm’s digital asset accumulation strategy is different from that of its competitors. For instance, Metaplanet and Semler Scientific aim to accumulate 210,000 and 105,000 BTC (1% and 0.5% of the total supply, respectively) by the end of 2027.

Next Technology has not set specific targets, opting instead to «monitor market conditions» and make Bitcoin purchasing decisions based on a monthly assessment of the situation.

In recent months, the issuance of stock by digital treasury companies (DAT) for cryptocurrency purchases has decreased compared to previous quarters.

According to analysts from Standard Chartered, this is due to a collapse in the mNAV indicator of many companies, which reflects the ratio of a firm’s market capitalization to the value of its crypto reserves. A value above 1 allows for asset accumulation, while falling below that level makes treasury expansion more challenging and risky.

The bank’s experts noted that several well-known DATs have recently dropped below the critical threshold, effectively losing the ability to make further acquisitions.

«The recent mNAV collapse might lead to market consolidation. Major players, low-cost financing companies, and those earning returns from staking will benefit,» added Standard Chartered.

The analysis covered several companies, including Bitmine, Metaplanet, Sharplink, Upexi, and DeFi Development Corp. Their valuations have decreased due to market saturation, investor caution, and weak business models.

If the mNAV of companies with cryptocurrency reserves remains below 1, giants like Strategy may move to acquire weaker competitors, analysts stated. However, in the long run, Bitcoin-focused DATs face greater risks due to the lack of staking income and an oversaturated market.

Standard Chartered believes that reserves in Ethereum and Solana appear more resilient, noting that the second-largest cryptocurrency «will benefit the most.»

Additionally, JPMorgan has described the refusal to include Strategy in the S&P 500 as a «blow to crypto treasuries.»