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Tom Lee said “wars are good for U.S. markets” and pointed to his research suggesting that financial markets often bottom very early in major conflicts, despite short-term uncertainty. Lee argued that investors tend to focus on immediate crisis effects—such as uncertainty around monetary policy—while missing opportunities that emerge as markets adjust.
Lee said that while wars create a “huge short-term setback” and heightened uncertainty, they can ultimately benefit the U.S. economy and the U.S. stock market. He also suggested that market sentiment can shift from “crisis thinking” to “opportunity thinking” by year-end as the economic effects of wartime spending become clearer.
In support of his view, Lee referenced research covering the last eight major war events, saying markets “consistently bottomed very early into the conflict,” which he described as creating buying opportunities for investors able to look beyond the immediate disruption.
Lee’s comments also coincided with activity around Bitmine’s staking infrastructure. The company’s MAVAN platform—formally named the Made in America Validator Network—was built to support Bitmine’s staking operations and is now planned to be offered to institutional investors, custodians, and exchanges.
According to the report, MAVAN is designed to provide U.S.-based infrastructure for domestic validation while using globally distributed architecture for international clients. Lee said that because Bitmine is the largest owner of Ethereum in the world, MAVAN would become the largest Ethereum staking platform shortly after launch.
The platform is expected to expand across additional proof-of-stake networks and blockchain infrastructure through 2026, including efforts related to onchain vaults and post-quantum client development.
Bitmine reported holding 3,142,643 staked ETH as of March 24, valued at about $6.8 billion at an ETH price of $2,148. The company said it staked 101,776 ETH worth $219 million to MAVAN in the past week and plans to stake nearly all remaining unstaked ETH in the coming weeks.
After a full treasury migration, Bitmine projected annual staking rewards of nearly $300 million, based on a 2.83% seven-day yield.
Bitmine also reported total ETH holdings of 4,660,903 tokens as of March 22, representing 3.86% of total ETH supply. The company said staked ETH represents approximately 67% of that total.
Ethereum rose 1.5% over the past 24 hours to $2,183, but remains down more than 55% from its August 2025 record high of around $4,900.
In Bitmine-related market coverage, BMNR was described as up 3% on the day, “barely holding” the $20 to $21 support zone that has acted as a floor in recent weeks. The report said price is below all EMAs except the 20 EMA at $21.22, with the 50 EMA at $23.39, the 100 EMA at $27.52, and the 200 EMA at $29.03—all sloping downward.
The coverage noted that a break below $20 could open the door to $16 and potentially lower levels. For a bullish case, it said price would need to reclaim $23.39 (the 50 EMA) with conviction; otherwise, any bounce could be limited within the broader downtrend.
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