He expects the market to enter an accelerated growth phase in 2026, supported by AI adoption and looser monetary policy.
Tom Lee, co-founder of Fundstrat and chairman of BitMine, believes the world is entering a “super cycle.” It is fueled by artificial intelligence, tokenization, and decentralized finance. In his latest interview with Anthony Pompliano, Lee described the current rally as the “most hated bull market.” It is driven by strong fundamentals but clouded by pessimism and political bias.
Lee dismissed the idea that AI is in bubble territory. He pointed out that Nvidia, the backbone of AI infrastructure. That still trades at a price to earnings ratio lower than Walmart’s. In his view, companies are already reaping tangible returns from AI investments. Both by cutting labor costs and improving efficiency. “We’re seeing record profits and productivity gains,” he said.
“That’s not a bubble, that’s transformation.” Tom Lee compared today’s AI wave to the early internet era. He emphasizes that while speculative behavior existed then, the current phase is more rational. He believes AI will continue driving corporate profits and reshape the global economy in ways far beyond automation.
Tom Lee is boldly optimistic about Bitcoin’s long-term trajectory. He said the world’s leading cryptocurrency could ultimately reach between $1.6 million and $2 million per coin. Especially if gold climbs to $5,000 per ounce. “As gold’s value rises, Bitcoin’s network value rises with it,” he noted. But Tom Lee argued that Bitcoin’s traditional four-year cycle may no longer apply. As institutional adoption grows and macro conditions evolve. He believes Bitcoin’s market rhythm will extend into longer, more unpredictable cycles. Despite potential short-term drops, Lee maintains that Bitcoin remains in a powerful long-term uptrend.
Lee also shared his conviction that Ethereum will become Wall Street’s ‘sovereign reserve asset.’ It is setting a target price of $21,000 per ETH. His company, BitMine, reportedly holds 3.23 million ETH. The largest institutional holding worldwide. He believes Ethereum dominance in smart contracts and tokenization gives it a critical edge. “Bitcoin is digital gold,” he said, “but Ethereum is the backbone for tokenized finance.” With over 70% of on-chain financial products built on Ethereum. Tom Lee sees it as the future foundation of the global financial system.
Looking ahead, Lee predicted that prediction markets like PolyMarket and Trueflation will eventually replace traditional economic surveys. He is citing their transparency and accuracy. He also envisions a “robot tax” system. Where AI-driven machines are taxed per task via on-chain micropayments. A futuristic idea to balance automation’s impact on labor.
Tom Lee warned that U.S. economic data, such as the Michigan Consumer Survey. It has become politically “contaminated,” skewing market perceptions. Political division, he said, is a key reason why this strong market feels “hated.” Despite widespread pessimism, retail investors, not institutions, are leading the charge with longer time horizons and higher risk tolerance.
As for the broader outlook, meanwhile, Tom Lee sees 2026 as the year of accelerated growth. Indeed, with looser monetary policy, a rebound in manufacturing, and deeper AI adoption. He expects global markets to enter a powerful expansion phase. His bottom line: “This is not a bubble. Rather, this is the beginning of a generational shift, one that will redefine value, productivity and wealth itself.”
