WuBlockchain
BitMine Chairman Tom Lee said at Korea Blockchain Week on September 30 that digital asset treasury companies, or DATs, can raise capital to buy more crypto when their shares trade above net asset value. Continued purchases could reduce the supply available to other buyers and support prices, he told CoinDesk.
Why it matters
Lee pointed to HYPE as an example. He said a Hyperliquid DAT holds about 14% of the token supply and continues to buy. Concentrated buying on that scale makes the treasury's ability to raise fresh capital central to his argument.
Market impact
Lee said HYPE could rise parabolically if the DAT's holdings reached 50% of supply. That is a hypothetical scenario, not a reported holding or a guaranteed price outcome. The supply effect depends on continued purchases, while HYPE's market price can also respond to other forces.
Frequently asked questions
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Why does trading above net asset value matter for a DAT?
Lee says it allows a digital asset treasury company to raise capital and buy more crypto.
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How could continued DAT purchases affect crypto prices?
Lee argues that continued buying could reduce the token supply available to other buyers and potentially support prices.
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How much HYPE supply does Lee say a Hyperliquid DAT holds?
Lee said a Hyperliquid DAT holds about 14% of HYPE's token supply and continues to buy.
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What does the 50% HYPE figure represent?
It is a hypothetical level of supply held by the DAT. Lee said HYPE could rise parabolically if its holdings reached that level.
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Does Lee's argument guarantee a HYPE price increase?
No. His scenario depends on continued capital raises and purchases, and the proposed price effect is not guaranteed.
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