PANews reported on June 11th that, according to a tweet from Bloomberg ETF analyst Eric Balchunas, Tom Lee, Head of Research at Fundstrat and Chairman of Bitmine, stated during a speech to financial advisors at the DACFP conference that the entire financial system is built on layers of technology stacks, resulting in a large number of fraudulent and deceptive transactions, while Ethereum and Bitcoin have never experienced fraudulent transactions. Blockchain also has lower operating costs. He likened investing in blockchain to owning real estate, believing that proxy AI will leverage the speed advantage of blockchain and prevent it from spiraling out of control. Lee also stated that BitMine may not need to hold more than 5% of the supply, as the company holds a significant stake in Mr. Beast Financial, and Ethereum's supply has already contracted. BitMine may be included in the Russell 1000 index at the end of June, which will help stabilize its share price.