HONG KONG – Thomas Lee, president of ether Treasury company BitMine Immersion (BMRN) said the next generation’s big financial institution may not come from Wall Street but from YouTube.
Speaking on stage at Consensus Hong Kong on Wednesday, Lee argued that MrBeast’s move into banking could position the video creator as the leading financial platform for Generation Z and Generation Alpha and a major on-ramp into cryptocurrencies.
MrBeast’s company, in which BitMine invested $200 million, agreed earlier this month to buy neobank Step as a long-term bet on how younger generations will access financial services.
“Beast has the opportunity to be the financial institution of its generation,” Lee said.
He compared the opportunity to how Charles Schwab served baby boomers, BlackRock and Blackstone attracted Gen X capital, and Robinhood captured Millennials.
He noted that Generation Z and Generation Alpha represent around 120 million people in the US alone, and MrBeast has built an audience of more than one billion followers worldwide.
“These clients are not necessarily rich today,” Lee said, but over the next decade they will participate in a significant transfer of wealth.
If Step becomes its primary financial platform, he argued, it could position BitMine and investment in MrBeast’s company at the center of a generation that views digital assets as native to their financial lives.
