Tom Lee Says Ethereum and Bitcoin Have Seen No Fraudulent Blockchain Transactions

Tom Lee said the current financial system is built on multiple technology layers that allow significant “false or fraudulent transactions,” while Ethereum and Bitcoin have had no fraudulent transactions at the blockchain layer and operate at lower cost. According to ChainCatcher, Lee made the remarks at a DACFP conference for investment advisers. Lee added that investing in blockchain is similar to holding real estate assets, and said “agentic AI” may rely on blockchain in the future to increase speed and help prevent systems from spinning out of control. He also said Ethereum’s supply is shrinking and suggested BitMine may not need to hold more than 5% of Ethereum’s total supply. Lee further said BitMine could be included in the Russell 1000 Index by the end of June, which he said may support stock-price stability. He also referenced the company’s equity stake in a MrBeast-related financial company.