According to Fortune, Bitmine Chairman Tom Lee stated that many crypto treasury firms are now trading below net asset value, signaling a cooling phase in the sector.
Bitmine Chairman Tom Lee told Fortune that the bubble for cryptocurrency-holding companies has likely burst, as many now trade below their net asset value. Speaking on the publication’s podcast, Lee explained that digital asset treasury firms, which typically hold substantial reserves in cryptocurrencies like Bitcoin, Ethereum, and Solana, are facing valuation pressures. His remarks indicate a shift from speculative growth to fundamental valuation in this segment.