Thomas Lee Hails 65% Of Cryptocurrencies As ‘Commodities’ In The United States


Thomas Lee, Fundstrat Global’s founder and crypto analyst, is hailing the U.S. Securities and Exchange Commission (SEC) official Hinman’s remarks on Ether (ETH), Bitcoin (BTC) and Initial Coin Offerings (ICOs). He says that 65% of the market is comprised of commodities in the US.

Securities, Commodities Or Currencies?

During the last months, the United States and the world have been discussing whether Ether, Bitcoin and Initial Coin Offerings (ICOs) are commodities, currencies or securities. Ethereum was in a complicated situation due to the fact that it may have started as a security but later, it become decentralized, which does not make it a security.

According to Thomas Lee, the landscape is now clearer after Hinman’s clarification. Mr. Thomas Lee believes that institutional investors will see virtual currencies as a ‘clearer’ investment option. Before Hinman’s comments, investors were hesitant to place their investments in crypto assets. What if later these currencies were considered unregistered securities?

Thomas Lee wrote a tweet on June the 15th that says that 65% of the current cryptocurrencies are ‘commodities.’ ‘Seems like the roadmap for institutions to invest in crypto is becoming clearer…’ he said.

At the moment of writing this article, Bitcoin, Ethereum, Bitcoin Cash, and Litecoin have almost $160 billion dollars market capitalization all together. Moreover, Ethereum Classic can also be added to the list with $1.4 billion dollars market capitalization.

This mean that more than half of the total market is not considered as a security. The total market value is currently $275 billion dollars. Retail and institutional investors may now be able to start investing in the market knowing where they are placing their funds.

After Hinman commented about these topics, the market surged over $60 billion dollars in just a few hours. At the moment, the market is again losing part of its value.

Some companies, including Nasdaq or Coinbase, are working in projects and platforms 100% planned for institutional investors. This is a very important step because traditional platforms do not offer proper services for these wealthy investors.

Michael Novogratz, an important figure in the cryptocurrency landscape, said that ‘the institutionalization of the space is’ quickly coming to the market.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide