Bitmine Immersion Technologies Inc. (NASDAQ: BMNR) Chairman Tom Lee argued that major financial institutions should be valued more like technology companies as AI and blockchain continue reshaping the industry.
Speaking at the Future Proof conference, Lee said the financial sector is fundamentally unprepared for a world where AI agents make autonomous, small-scale payments on behalf of users.
Lee pointed out that existing banking infrastructure cannot easily verify who is issuing instructions to a robot, creating significant fraud risk and institutional vulnerability.
“Robots make tiny payments and increase the risk of fraud,” Lee said, adding that firms do not know who is giving a robot its instructions.
He argued that the solution lies in blockchain technology, stating: “So there’s a real innovation taking place in the financial services world, actually, a lot of it is going to be built on blockchain.”
Lee said this structural shift makes crypto a “huge winner” over the long term, with the best financial firms eventually trading at higher price-to-earnings multiples as they take on tech-like characteristics.
Wedbush analyst Dan Ives, appearing on the same panel, shifted focus toward the broader AI infrastructure buildout, describing it as still in its early stages with data centers, utility firms, and energy companies among the biggest beneficiaries.
Ives called the global competition to build out AI infrastructure a “two-horse race” between the United States and China, framing the contest in geopolitical as much as technological terms.
The panel discussion came roughly a month after Fundstrat updated its stock picks, adding JP Morgan to its core buy list while placing Robinhood (HOOD), Galaxy Digital (GLXY), and Riot Platforms (RIOT) among its bottom five recommendations.
Fundstrat clarified that the bottom five designation does not carry a traditional buy or sell rating, and Lee has maintained a broadly bullish long-term outlook on the cryptocurrency sector.
BMNR stock closed up more than 8% on Friday, tracking a broader rally in Ethereum, which is notable given that Bitmine is the largest corporate treasury holder of Ethereum in the world.
Ethereum was trading at $2,639, representing a gain of more than 5% over the prior 24-hour period, though retail sentiment on the token remained in bearish territory with low chatter levels.
On Stocktwits, sentiment around BMNR held in neutral territory, with retail chatter rising to normal levels from low levels over the same period, suggesting cautious but growing interest from individual investors.
