Mechanism Capital co-founder: Tom Lee's ETH investment view is "complete nonsense"
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最新报道：According to Bijie.com, on September 24th, Mechanism Capital co-founder Andrew Kang criticized BitMine Chairman Tom Lee's Ethereum investment thesis in a social media post, calling it a "combination of financial illiteracy arguments." Kang refuted Lee's five core ETH investment arguments one by one: 1. Stablecoin and RWA Adoption: While RWA value and stablecoin transaction volume have increased 100-1000 times since 2020, Ethereum's daily transaction fees have remained at 2020 levels, due to factors such as network upgrades improving efficiency and the shift of activity to other blockchains. 2. "Digital Oil" Analogy: Kang noted that oil is a commodity, with inflation-adjusted prices fluctuating roughly within the same range for a century. He agreed with Lee's view that Ethereum could be considered a commodity, but was not bullish. 3. Institutional Purchase of Staking: Kang stated that major banks and financial institutions have neither purchased ETH nor announced plans to do so. 4. Valuation Equivalent to Financial Infrastructure Companies: Andrew Kang called this view a fundamental misunderstanding of value accumulation and pure delusion. 5. Technical Analysis: Andrew Kang believes that Tom Lee uses technical analysis to draw arbitrary lines to support his argument, and that Ethereum's technicals are actually bearish.
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