Tom Lee: The bubble of digital asset treasury companies may have burst

ChainCatcher news, in the latest issue of Fortune magazine's Crypto Playbook video, BitMine Chairman Tom Lee stated that the bubble of digital asset treasury companies may have already burst.

Despite Ethereum sometimes struggling in recent years due to the surge of other blockchains and its own technological challenges, Tom Lee believes that Ethereum is still "the blockchain of Wall Street," especially as financial companies explore the applications of stablecoins and various tokenized assets, many of which are native to Ethereum. Tom Lee pointed out that as more digital asset treasury companies enter the public market, the stock trading prices of many companies have fallen below their net asset value, which is the value of their underlying cryptocurrency holdings. He stated, "If this isn't a bubble bursting, then what is a bubble bursting?"