Tom Lee: Continued DAT Buying Could Push Crypto Prices Higher
Tom Lee, Chairman of BitMine, said continued capital raising by Digital Asset Treasury (DAT) companies to purchase crypto could create additional upward pressure on prices as available supply declines.
Speaking to CoinDesk at Korea Blockchain Week on September 30, Lee cited HYPE as an example. He said a Hyperliquid-related DAT currently holds around 14% of HYPE’s supply and continues to accumulate. If its holdings reached 50% of the supply, HYPE could potentially enter a parabolic price move.
Lee’s argument is that when DATs trade above their net asset value (NAV), they can raise additional capital and use the proceeds to buy more crypto. This creates a potential cycle of premium → capital raising → crypto purchases → reduced market supply → higher prices, which could amplify the upside.
However, Tom Lee’s market forecasts have often been optimistic, and specific price targets or timelines may not materialize. The more important point is the DAT mechanism itself: sustained capital raising and accumulation can create additional demand while reducing circulating supply, potentially amplifying price movements.
Tom Lee, Chairman of BitMine, said continued capital raising by Digital Asset Treasury (DAT) companies to purchase crypto could create additional upward pressure on prices as available supply declines.
Speaking to CoinDesk at Korea Blockchain Week on September 30, Lee cited HYPE as an example. He said a Hyperliquid-related DAT currently holds around 14% of HYPE’s supply and continues to accumulate. If its holdings reached 50% of the supply, HYPE could potentially enter a parabolic price move.
Lee’s argument is that when DATs trade above their net asset value (NAV), they can raise additional capital and use the proceeds to buy more crypto. This creates a potential cycle of premium → capital raising → crypto purchases → reduced market supply → higher prices, which could amplify the upside.
However, Tom Lee’s market forecasts have often been optimistic, and specific price targets or timelines may not materialize. The more important point is the DAT mechanism itself: sustained capital raising and accumulation can create additional demand while reducing circulating supply, potentially amplifying price movements.