Fundstrat

Tom Lee

2026-10-07 10:16:19

Tom Lee says S&P 500 valuations are getting cheaper as Q3 earnings growth may approach 30%

Tom Lee, chairman of Ethereum treasury company BitMine, said the S&P 500 is becoming cheaper on a valuation basis even as market sentiment has recently remained cautious. He said fundamentals for the index are improving, pointing to Fundstrat estimates that third-quarter earnings growth for S&P 500 companies could come close to 30%. Lee also said 2027 earnings-per-share expectations have been raised by more than 20% since the start of the year. In his view, the index’s gains have lagged the upward revisions in earnings expectations, which means valuation multiples have effectively come down. Lee added that higher oil prices could strengthen the U.S. economy through energy exports, while the relative strength in technology stocks and crypto markets suggests investors are betting on weaker inflation ahead.

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Tom Lee

2026-10-07 10:23:05

Tom Lee says S&P 500 valuations have eased as earnings outlook improves

BitMine chairman Tom Lee said the market may look cautious in the near term, but the fundamentals behind the S&P 500 are improving and valuations have effectively come down. He cited Fundstrat estimates showing that third-quarter earnings growth for S&P 500 constituents could approach 30%, while 2027 earnings-per-share forecasts have been raised by more than 20% since the start of the year. Lee argued that the index has not risen as much as earnings expectations have, which means valuation multiples are actually declining rather than expanding. He also said higher oil prices could strengthen the U.S. economy through energy exports. In his view, the relative strength seen in technology stocks and crypto markets suggests investors are positioning for weaker inflation ahead.

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Tom Lee

2026-09-15 12:34:16

Tom Lee says rising AI debt does not mean the bubble must end badly

Fundstrat co-founder Tom Lee said concerns are building around debt tied to AI infrastructure financing, but argued that expansion in high-growth industries has never relied entirely on equity capital. In his view, a rise in debt financing among AI companies does not automatically signal a broken business model or an imminent collapse in an AI bubble. Lee described AI as the "third engine" of economic growth. To make his point, he cited Bitcoin’s move from under $1,000 to about $80,000, saying investors often underestimate the long-term value and speed of adoption of new technologies in their early stages. Within that framework, he said Nvidia, semiconductors, memory, and energy and power assets constrained by computing expansion remain some of the more attractive ways to gain exposure to the AI investment chain. He added that the market will now be watching whether that debt can translate into lasting revenue, cash flow, and productivity gains.

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Tom Lee

2026-09-14 13:43:37

Tom Lee says ETH could rally in coming weeks as institutional crypto allocation gains support

Tom Lee, chairman of Bitmine and co-founder of Fundstrat, said ETH may be setting up for a notable move higher over the next few weeks. He argued that Ethereum held its range through August without breaking down, and that the expiration of a Sept. 12 indicator may have reopened the path for an upside trend. He also pointed to a sharp one-day move at the end of August as a possible preview of the next leg up. Lee said ETH was the best-performing macro asset in the third quarter of 2026 as of last Friday, outperforming the S&P 500 by 5,866 basis points, while ETH, SOL and BTC ranked as the top three assets since June 30. In his view, crypto’s strong Q3 performance relative to traditional macro assets could give institutions more reason to raise allocations. He also listed potential catalysts for the coming months, including a mid-September vote on the CLARITY Act, a rotation by Korean investors from AI stocks back into crypto, and what he expects to be a bottom in the four-year cycle within the next few weeks. Separately, Bitmine added 27,180 ETH over the past week and had staked about 5.067 million ETH as of Sept. 7, equal to 85% of its holdings.

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Ethereum

2026-09-14 05:00:16

Tom Lee says Ethereum is becoming the settlement layer for Wall Street and AI

Fundstrat co-founder Tom Lee said in a reply on X that Ethereum is emerging as the settlement layer for both Wall Street and artificial intelligence. He tied that view to two developments already taking shape: the tokenization of traditional assets on Wall Street and the rise of autonomous AI systems. Lee also pointed to the recent breakout in the ETH/BTC exchange rate as a sign that the market is starting to price in that shift. He said BitMine Immersion Technologies, where he serves as chairman, has already backed the thesis through purchases that brought Ethereum to nearly 5% of its holdings. The comment came as ETH stood out from much of the large-cap crypto market. Over the past week, Ethereum was one of the few top-10 digital assets to post gains, and it was trading at about $2,518 on Monday, according to the source material cited by Techub News from BeInCrypto.

790

DeFi Developm

2026-09-08 18:21:29

DeFi Development Corp closes $11 million CHAD preferred stock offering with participation from Fundstrat's Tom Lee

DeFi Development Corp said it has completed an $11 million CHAD preferred stock offering, with Fundstrat's Tom Lee participating in the purchase. The company described the deal as the first digital credit instrument backed by Solana. CEO Joseph Onorati said Bitcoin has already shown that there is substantial market demand for digital credit. The announcement links the new issuance to Solana-based support and frames it as part of a broader push to build credit products tied to digital assets. No additional terms of the offering were disclosed in the brief statement. The update was reported by Odaily.

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Tom Lee

2026-08-27 03:37:08

Tom Lee says BitMine’s push toward 5% of ETH supply may not stop there, with ETH potentially topping $10,000

Tom Lee said BitMine Immersion Technologies, the Ethereum treasury company he chairs, has taken its ETH holdings from zero to roughly 5.82 million coins in 14 months, putting it close to its stated goal of owning 5% of total ETH supply. According to the discussion, the company built that position entirely through equity financing, with no debt and no convertible notes, a structure Lee described as keeping the balance sheet clean. BitMine has also bought ETH for more than 60 consecutive weeks, and over the past five weeks has paired purchases with stock buybacks, shifting capital toward whichever option offers the higher return at the time. Lee said reaching 5% would not automatically end the accumulation strategy. If institutions begin treating ETH as a long-term balance-sheet asset, he argued, owning more than 5% could still make sense, though he said that question is better assessed in 2027. He also said BitMine does not need to sell ETH to fund operations, citing roughly $300 million in annualized staking income against about $30 million to $35 million in yearly dividends tied to its 9.5% preferred stock, BMNP. On valuation, Lee framed ETH as a store-of-value asset more akin to equities or land than a bond-like cash-flow instrument. His price targets were explicit: above $5,000 in a new crypto bull cycle, and above $10,000 within one to two years if Wall Street tokenization and AI-driven demand are added to the mix.

1100

Fundstrat

2026-08-25 01:10:54

Fundstrat ties BitMNR’s 10-year vision to Ethereum’s role in tokenization and AI

ChainCatcher, citing Bankless and comments attributed to Fundstrat, reported that the firm’s 10-year vision for BitMNR rests on a bet that Ethereum will become the leading chain for tokenization and artificial intelligence-related activity. Fundstrat said it has already positioned around the view that Ethereum will be where much of that activity takes place, and argued that this legacy could help the network remain the most important public blockchain in the years ahead. On ETH’s market case, Fundstrat said the argument that Ethereum could overturn Bitcoin’s native narrative is a reasonable one. It added that if ETH were to reach $50,000, $100,000, or $200,000, shareholder returns would be highly attractive. The report did not provide further details on timing or valuation assumptions beyond those price levels and the long-term thesis tied to Ethereum’s role in tokenization and AI.

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