BlockBeats News, March 15th. Tom Lee, Chairman of the Ethereum Treasury Company BitMine, stated in an interview with CNBC, “I think overall, the tech sector has actually performed quite well, including software stocks. This makes sense to us, but I have to say something a bit counterintuitive. The rise in oil prices is actually beneficial for the U.S. stock market. One reason is that the U.S. is a net oil producer. When people are worried that rising oil prices will drag down global economic growth, they actually prefer to hold growth stocks. This will prompt investors to buy into the U.S. stock market because the U.S. market itself is a ‘growth index,’ especially the MAG-7 and software sectors. So I think the current market performance actually makes sense. I also believe that the stock market may be forming a bottom this month.”
“The issue of private credit has actually been around for a while, it’s just gradually coming to light now. But I don’t think the situation is as systemic as the market is worried about. Many people immediately think of Lehman Brothers and the global financial crisis when they see a problem, but there are many reasons this time is different. First, the market size is not as big as it was back then. Second, the credit stress signals we see now are not as severe as they were in 2008. So I think it is indeed dragging down the financial sector now, but it will not become a systemic issue for the entire market or economy.”
