Thomas Lee, Chairman of BitMine Immersion (NYSE:BMNR), said that YouTube sensation Jimmy Donaldson, also known as MrBeast,’s entry into the financial sector could trigger a significant shift in the financial preferences of younger generations.
Lee, also the co-founder of Fundstrat Global Advisors, shared his thoughts as a keynote speaker at the Consensus Hong Kong event on Wednesday. He suggested that MrBeast’s banking venture might position itself as the go-to financial platform for Gen Z and Gen Alpha, potentially serving as a key entry point to cryptocurrency.
Lee drew parallels between this potential shift and how Charles Schwab Corp. (NYSE:SCHW) catered to baby boomers, BlackRock Inc. (NYSE:BLK) and Blackstone Inc. (NYSE:BX) attracted Generation X, and Robinhood Markets (NASDAQ:HOOD), SoFi Technologies (NASDAQ:SOFI) and Chime Financial (NASDAQ:CHYM) appealed to millennials.
“He is the guy….basically the next Robin Hood, SoFi, Chime combined,” Lee said about Mr. Beast’s financial institution.