Fundstrat co-founder Tom Lee, while evaluating the rise in the markets after the Consumer Price Index (CPI) data announced in the US came in better than expected, said that Ethereum has the potential to even surpass Bitcoin in the long run.
Speaking to CNBC, Lee stated that the strong liquidity environment will be positive for the financial sector, small-cap stocks, and cryptocurrencies, saying, “Ethereum has surged 28% this year, outperforming Bitcoin. According to our research, Ethereum could be the biggest macro trade of the next 10-15 years.”
Lee explained that this optimism stems from the growth of the stablecoin ecosystem and Wall Street’s shift to blockchain. “Stablecoins are providing a ChatGPT moment for crypto. Giants like JPMorgan, Coinbase, and Robinhood are developing Ethereum-based solutions. Wall Street is building the tokenization of the financial system on ETH,” he added.
Recalling that Standard Chartered raised its year-end Ethereum price target from $4,000 to $7,500, Lee noted that the current $4,700 level is very close to the $4,800 peak in 2021. “I think that if this level is broken, $7,500 could be the lower bound, and even a range of $10,000-$15,000 is possible,” he said.
Listing potential FED interest rate cuts, strong earnings season, and positive investor sentiment in the markets among the macro factors that will support Ethereum’s rise, Lee also stated that he sees Nvidia as one of the most important companies in the long run.
*This is not investment advice.
