Fundstrat

Fundstrat’s Tom Lee: How Ethereum Could Overtake Bitcoin

Name: Fundstrat’s Tom Lee: How Ethereum Could Overtake Bitcoin
Uploaded: 2025-09-04T17:35:42Z
Description: Fundstrat's Tom Lee remains a Bitcoin bull, confident it could one day hit $1M—but he’s even more bullish on Ethereum. In this episode, he explains why Bitcoin’s main appeal is as a store of value, while Ethereum is set to become the backbone of real-world applications. From tokenization outside the

9/4/2025, 5:35:42 PM

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Economic Summary

Bitcoin (BTC) is framed as a store-of-value with ~95% mined and only ~5% of institutions holding it; if institutional and government reserves scale toward gold’s network value (~$22T), BTC price could rise toward ~$1.2M.
Ethereum (ETH) is positioned as the blockchain infrastructure for tokenization: smart contracts, the EVM, and major stablecoins are largely on Ethereum, and regulatory green lights (the “Genius Act” in the transcript) and bank adoption could drive large protocol-level value.
Macro liquidity and policy matter: Bitcoin tracks global monetary liquidity (M2) and is sensitive to Fed easing or interference; risk-off periods hurt both BTC and equities, while AI adoption increases demand for on-chain proof/token solutions, favoring Ethereum.

Bullish

Bitcoin's fixed supply and low institutional ownership imply large upside if institutions and governments accumulate (potential ~$1.2M target).
Ethereum is being chosen as the blockchain infrastructure for tokenizing financial products, stablecoins, and Wall Street rails.
Ethereum benefits from AI integration and proof-of-origin/token needs, expanding on-chain utility and demand for ETH.

Bearish

Short-term Fed interference or risk-off sentiment could depress Bitcoin and equities.
Proliferation of new cryptocurrencies undermines the limited-supply store-of-value thesis.
Regulatory uncertainty and government desire to control monetary systems may limit crypto growth.

Bullish tickers

BTCETH

Bearish tickers

BTCETH

BTC

1 price targets

1200000

Bullish

Fixed supply, limited existing institutional ownership, and potential to substitute gold as a reserve asset could drive BTC to much higher prices.

Bearish

Short-term Fed interference and risk-off sentiment could hurt price; proliferation of alternative cryptocurrencies challenges store-of-value narrative.

ETH

Bullish

Chosen by Wall Street for tokenization, home to most stablecoins, and positioned to power AI-proof-of-origin tokens and layer-two expansion.

Bearish

Value depends on continued real-world adoption, regulatory clarity, and overcoming crypto tribalism and competition from other chains.

People mentioned

Wilfred FrostTom LeeJamie DimonRaoul PaulBesson