Tom Lee, chairman of ether treasury firm Bitmine and cofounder of financial research firm Fundstrat, sees a potential wealth transfer of up to $2 trillion between 2026 and 2028 as a driver of digital asset demand.
Lee pointed to estimates from the U.S. Internal Revenue Service and Fundstrat suggesting between $1.5 trillion and $2 trillion in wealth could change hands during this period. He noted that younger investors inheriting this wealth may have a higher risk appetite for crypto and equities compared to previous generations.
"The wealth transfer underway is expected to support the upcoming crypto bull market as those inheriting wealth are younger and likely have a higher risk appetite for crypto and equities," Lee said in a statement.
Lee also highlighted other potential drivers of digital asset growth, including Wall Street's growing use of blockchain technology to represent financial assets, the rise of AI applications, and crypto treasury companies holding tokens for the long term.
Bitmine Approaching 5% Ether Target
Bitmine purchased another 12,532 ETH last week, worth approximately $32 million, bringing its total holdings to 6,028,946 ETH. This represents about 4.9% of ether's 122.1 million token supply, leaving the company approximately 76,000 ETH short of its goal of owning 5%.
At the company's recent acquisition pace, Bitmine could reach its 5% target in roughly six weeks. Lee said the company plans to stop accumulating ETH once it reaches this target.
Since pivoting to an ether-focused strategy in June 2025, Bitmine said it bought ETH every week. The firm has staked approximately 5.07 million ETH, or 84% of its holdings, and projects roughly $336 million in annualized staking revenue at current yields.
