Michael Saylor once called Tom Lee Ethereum’s ‘most influential spokesperson’ whose presence brings ‘trust’ to the ecosystem – Grayscale Bitcoin Mini Trust (BTC) Common Units of Fractional Undivided Economic Interest (ARCA:BTC)

Michael Saylor once called Tom Lee Ethereum’s ‘most influential spokesperson’ whose presence brings ‘trust’ to the ecosystem – Grayscale Bitcoin Mini Trust (BTC) Common Units of Fractional Undivided Economic Interest (ARCA:BTC)

Michael Saylorfamous Bitcoin (CRYPTO: BTC) bull and co-founder by Strategy Inc. (NASDAQ:MSTR), recently praised the Wall Street strategist Tom Leedescribing him as the most influential voice representing Ethereum (CRYPTO:ETH).

Saylor says Lee acts as a bridge between Wall Street and Crypto

During his keynote speech at the BTC in DC event on September 30, Saylor said noted that Strategy’s cryptocurrency treasury framework was widely replicated, specifically citing BitMine Immersion Technologies Inc. (AMEX:BMNR), which is Lee chairs.

“Tom Lee has emerged in just a few months, maybe a few weeks, as probably the most visible, influential spokesperson in the entire Ethereum ecosystem,” he said.

Saylor highlighted Lee’s Wall Street background, adding that his involvement led to the merger of Wall Street with the cryptocurrency economy.

“Capital flows because it trusts Tom Lee,” the Bitcoin bull said.

See also: Peter Schiff: Bitcoin depends on ‘growing supply of fools’ – and technical analysis says he’s not wrong

Movement is ‘legitimized’

Saylor said it’s a net positive when people like Lee have conversations with early Ethereum entrepreneurs, including Vitalik Buterine.

“And what’s interesting is that the whole movement is becoming commercialized, institutionalized, legitimized, rationalized, getting a little older, a little more credible,” Saylor said.

Strategy, BitMine Champion Crypto Treasury Play

Under Lee’s leadership, BitMine has become the largest Ethereum treasury company and the second largest cryptocurrency treasury in the world, with a supply of 3,236,014 ETH, valued at $12.64 billion. Seasoned investors, like Cathie Hout And Peter Thielhave invested in the company.

Saylor’s Strategy pioneered this model, with a Bitcoin treasury currently worth over $70 billion.

Price promotion: At the time of writing, BTC exchanged hands at $110,406.96, down 2.43% in the past 24 hours, according to data from Benzinga Pro. ETH was down 2.71% at $3,918 at last check.

Strategy shares fell 0.17% in after-hours trading after closing 3.26% lower at $275.36 during Wednesday’s regular session. BMNR shares fell 5.29% to $49.76.

Benzinga’s own Edge Rankings show growth as the strongest category for MSTR, at 36.61/100. Find out how it compares to BMNR stock by clicking here.

Photo courtesy: Dragon Claws on Shutterstock.com

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