In this episode of LevelUp, David and Sean sit down with Tom Lee, Head of Research at Fundstrat Global Advisors and Chairman of Bitmine. They explore Ethereum’s positioning in global finance, the rise of Bit Mine as a leading Ethereum treasury, and the broader macro environment shaping digital assets. Tom also shares his views on crypto’s long-term potential, decentralization, and how Bit Mine is tackling treasury growth at scale.

Key Points From This Episode:

[00:00:00] Ethereum's macro moment and Tom Lee's take on blockchain's next evolution

[00:01:00] Introduction of Tom Lee and Bitmine’s rapid rise

[00:02:07] Bitmine’s Ethereum-focused treasury strategy and market impact

[00:03:32] Comparing Bitmine to MicroStrategy and its accelerated growth

[00:05:13] The role of decentralized finance (DeFi) in traditional capital markets

[00:07:28] How Ethereum compares to Bitcoin in institutional utility

[00:10:00] Fundstrat’s macro research approach and Tom’s market outlook

[00:12:14] Inflation, interest rates, and implications for crypto investment

[00:15:48] Institutional adoption signals from ETF filings and policy tone shifts

[00:18:35] How Bitmine handles treasury diversification and volatility

[00:21:10] The emergence of crypto-native treasuries as new corporate models

[00:24:02] Lessons from Tom’s traditional finance background

[00:27:45] Regulatory shifts, SEC stance, and potential ETH ETF impact

[00:32:14] Why Tom believes Ethereum has long-term structural advantages

[00:36:50] Final thoughts on building conviction in digital asset cycles

[00:40:28] What’s next for Bitmine and how they’re preparing for future cycles

[00:44:10] The importance of macro alignment in crypto thesis development

[00:48:22] Closing reflections and Tom’s message for emerging crypto leaders

Links:

The Medici Network: https://www.medici.network/ 

Podcast Site: https://levelup.medici.network/ 

Interested in being a Protocol Guest? Connect with Elmira on X: https://x.com/elmira_yilham 

Guest   

Thomas Lee - https://x.com/fundstrat?

Co-Hosts

David Grider, Finality Capital - https://x.com/David_Grid

Sean Farrell, Fundstrat Global Advisors - https://x.com/SeanMFarrell

Production and editing by The Podcast Consultant  - https://thepodcastconsultant.com/

Disclaimer

This podcast is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. The views expressed by the hosts and guests are their own and do not necessarily reflect those of The Medici Network, Fundstrat Global Advisors LLC, Finality CP Management, LLC, or any of their affiliates. Listeners should consult their own professional advisors before making any financial or investment decisions. 

Some protocol guests featured on this podcast may be annual paid members of The Medici Network. This membership does not imply endorsement by The Medici Network. This podcast does not constitute an offer to sell or a solicitation to buy any securities or tokens.