Tom Lee Says Crypto Will Be “Really Bullish” For the Next 12 Months

Fundstrat Global Advisors Head of Research and BitMine Immersion Technologies Chairman Tom Lee has projected a highly bullish outlook for the cryptocurrency market over the next 12 months. Lee argues that the market has absorbed the bulk of its structural downside following historic leverage liquidations, suggesting the bottom of the four-year crypto cycle is near. Lee's optimism comes as BitMine holds 5.93 million Ether and sits roughly $5 billion underwater on its position. Despite Ether trading around $2,533 and Bitcoin hovering near $77,315—roughly 39% below its prior peak above $126,000—Lee points to the long-term potential of asset tokenization as a major catalyst. He estimates that moving $100 trillion in real-world assets onto blockchain infrastructure could create an annual revenue base supporting a $20 trillion business opportunity. While skeptics note that current on-chain tokenized assets stand at around $60 billion with low transfer activity, impending regulatory developments in the US, including potential legislative oversight under the Commodity Futures Trading Commission (CFTC), could provide further market clarity.