Tom Lee says crypto-buying listed firms could help drive prices higher

Tom Lee, chairman of Ethereum-buying company Bitmine (BMNR), said in an interview with CoinDesk at Korea Blockchain Week that continued crypto purchases by listed companies pursuing digital asset treasury strategies could help drive prices higher. Lee said shares of such companies trading above net asset value, or NAV, can raise additional funds to buy cryptocurrencies, which could reduce circulating supply in the market and lift asset values. Lee cited Hyperliquid’s HYPE as an example, saying related digital asset treasury companies currently hold about 14% of total HYPE supply and are continuing to accumulate. If those firms’ HYPE holdings reach 50% of total supply, the token’s price could surge parabolically, Lee said. U.Today, a crypto-focused media outlet, noted Lee’s market outlook is generally optimistic and said his bullish view does not necessarily materialize, with actual market conditions potentially unfolding very differently.