Fundstrat's Tom Lee: Crypto looks like it is bottoming now

• Crypto sentiment is at 'rock bottom' after significant drawdowns, with Ethereum down 40% in the last 10 days.
• Bitmine (BMNR) is debt-free, holds 4.3 million Ethereum, and generates $1 million/day in net income, indicating no financial risk despite market volatility.
• Ethereum's utility and network usage are growing, with active addresses up 117% year-over-year and Wall Street firms like UBS, Standard Chartered, and Fidelity tokenizing products on Ethereum.
• Historically, Ethereum has experienced seven drawdowns of 50% or more, all followed by V-shaped recoveries, suggesting a potential rebound.

Tom Lee of Fundstrat discusses the current state of crypto markets, noting that sentiment is at 'rock bottom' but highlighting Ethereum's underlying utility and network growth. He emphasizes Bitmine's strong financial position, being debt-free and generating significant income, despite the recent crypto drawdown. Lee suggests that crypto, particularly Ethereum, tends to have V-shaped recoveries after sharp declines.