Odaily Planet Daily reports: Tom Lee, Co-Founder and Head of Research at Fundstrat and Chairman of BitMine, told Wealthion that the next 12 months are expected to be a “very bullish” period for the crypto market. Lee believes that after over $19 billion in leveraged positions were liquidated in October last year, much of the leverage has been cleared out, and according to the crypto market’s four-year cycle, the cycle bottom may occur next month.
Lee also sees long-term opportunities in asset tokenization. He estimates that if approximately $100 trillion in traditional assets migrate on-chain over time, generating about 1% in related revenue opportunities, this could translate to roughly $1.1 trillion in annual revenue and a potential market value of $20 trillion. BitMine currently holds approximately 5.93 million ETH, with its ETH holdings reportedly carrying a paper loss of about $5 billion.