Fundstrat Chairman Tom Lee made a bold call on CNBC: cryptocurrency could become the biggest follow-on beneficiary of the artificial intelligence investment wave. Despite a disappointing 2026 for most crypto investors, Lee believes that in 12 months, people will look back and say crypto was the downstream story of AI.
Memory Stock Parallel: Late Innings Rally
Lee compared the current crypto market to memory stocks, which lagged through 2024 and 2025 before delivering strong gains in 2026. "Many investors find it easier to buy AI-related stocks than crypto right now," said Lee. "But crypto will eventually benefit from the same themes driving AI." He added that market perception could shift completely within a year.
Tokenization and Blockchain Infrastructure in Action
Lee highlighted the growing adoption of tokenized financial products. Younger consumers already use mobile apps for banking, and they may soon trade stocks via crypto-based platforms. He pointed to recent weekend oil trading executed on crypto rails as just one example. Blockchain offers continuous trading, settlement finality, and composability — the latter turning financial assets into software products. The transition is gradual, but adoption could accelerate as more assets move on-chain.
Bitmine Accumulates, Labels Market 'Crypto Spring'
Bitmine Immersion Technologies, where Lee serves as chairman, disclosed holdings of crypto, cash, securities, and "moonshots" totaling approximately $10.7 billion. In the past week alone, the firm added 52,203 ETH. Lee noted Bitmine has maintained steady accumulation throughout 2026, calling the current environment an early "crypto spring."
AI and Tokenization to Boost Demand
Lee believes advances in AI combined with asset tokenization will drive demand for blockchain networks and decentralized infrastructure. While he acknowledged 2026 has been disappointing, the underlying industry progress remains intact. "In 12 months, we're going to say crypto was a downstream story of AI," Lee reiterated in the interview.