Bit Digital CEO: Added ETH, I have a fiduciary obligation to make smart capital allocation decisions for clients

Odaily Planet Daily News Sam Tabar, CEO of Nasdaq-listed company Bit Digital, posted on X that he has purchased more ETH.

Sam Tabar explained: "Many people see ETH's price performance over the past two years and conclude that it's over. But I believe they are looking for the wrong catalyst. The repricing of ETH was never supposed to be built on retail narrative. For an asset with such massive infrastructure support, that kind of narrative itself is too fragile. The real catalyst is institutional demand. And the pace of institutional demand never operates based on social media sentiment. It only happens when the compliance framework is ready, the custodial system is established, and the regulatory environment is stable enough for a CFO to nod in approval. And that moment is actually closer than what market prices reflect."

He added: "I hold ETH because I have a fiduciary obligation to make smart capital allocation decisions. And at the price I bought it, ETH meets that standard."