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USA Today
01-08-2025
- Business
- USA Today
Bitcoin and crypto are on an upswing. How long can it continue?
July was good to Bitcoin, and some analysts think this may just be the warmup. Although Bitcoin was last down 0.35% at $115,396.40, below its record peak of around $123,000, some analysts aren't worried. Tom Lee, managing partner and head of research at Fundstrat Global Advisors who predicted Bitcoin's peak in 2024, has said he thinks Bitcoin willl reach $250,000 before the end of the year. Bitcoin climbed to a record high on July 14 as weekly cryptocurrency investment products saw record weekly inflows, pushing the total crypto market to top $4 trillion for the first time ever. With new legislation signed into law last month and skyrocketing institutional buying, there's little doubt digital assets are becoming more mainstream, they say. Earlier in the year, crypto exchange Coinbase also became the first crypto exchange to join the S&P 500, marking a major milestone for the digital asset industry. "Bitcoin pulling back after reaching a new all-time high is not unusual," said Samer Hasn, Senior Market Analyst at global broker Often, rallies are followed by dips, so people can take some profits around key technical levels. The drops also allow people who are sidelined and don't want to buy at the highs a lower entry point. Regulations give institutions green light The GENIUS Act, signed into law on July 18, creates a regulatory framework for stablecoins, a popular type of cryptocurrency tied to the value of stable assets like the U.S. dollar. The Act "marks a turning point in federal crypto oversight," said Frank Walbaum Market Analyst at socal investing platform Naga. "Regulatory clarity could support institutional adoption and long-term market maturation." Crypto has already seen a flood of new interest, with money flooding into crypto exchange traded funds, or ETFs that trade like stocks on an exchange but have holdings that track an index or other underlying asset. iShares Bitcoin Trust ETF, which seeks to reflect generally the performance of the price of bitcoin, became the fastest growing ETF ever in terms of assets. "The crypto ETF pie is growing fast because of broader adoptions after executive orders by President Donald Trump that are in the process of breaking down regulatory barriers that previously stood in the way of broader crypto adoption," said Bryan Armour, Morningstar's director of ETF and passive strategies. Who's buying crypto? Buyers are mostly young American males, according to a Deutsche Bank survey of U.S., UK and EU residents in June. In the United States, 23% of men versus 13% of women use cryptocurrency as a form of payment or personally invest in crypto, the survey showed. That's up from 20% and 12%, respectively, in January. Individual investors also tend to be young in the U.S. Among 18–34-year-olds, the share of investors increased to 29% in June from 24% in January, due to "excitement over Trump's pro-crypto administration," said Marion Laboure, senior economist at Deutsche Bank. Adoption rates have been on an upwards trend since Trump's election in November. U.S. investors also tend to have more money. U.S. crypto adopters tend to have income above $100,000 annually (34%). It was a 32% adoption rate for those earning between $50,000 and $100,000. More companies also are building Bitcoin treasuries. For example, MicroStrategy, which began buying Bitcoin in 2020, has since sold equity, issued various types of debt and layered stacks of preferred shares on top to raise money to buy more. In its latest earnings regulatory filing, it said it would do so again, selling $4.2 billion more in preferred stock to buy more of the digital coin. Its Bitcoin holdings helped the company's results top second-quarter estimates with a surprising profit. Metaplanet also said in a regulatory filing it plans to potentially issue up to $3.7 billion worth of perpetual preferred shares and use proceeds to buy more Bitcoin. It has said it wants to accumulate 210,000 Bitcoin by the end of 2027. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.
Bloomberg
29-07-2025
- Business
- Bloomberg
Tom Lee's Crypto Treasury Initiates Buyback a Month After Debut
Less than a month ago, investors such as Cathie Wood's Ark Investment Management were snapping up the shares of BitMine Immersion Technologies Inc. after Tom Lee of Fundstrat Global Advisors spearheaded the transformation of the Bitcoin miner into a crypto treasury company. But as of Tuesday, following announcements that the company registered for the resale of stock and authorized the repurchase of $1 billion of common shares, investors appeared less enthused. The Las Vegas-based company's shares - which soared almost 700% to $135 on June 30 - slumped as much as 13% to $30.60 on Tuesday.
Yahoo
28-07-2025
- Business
- Yahoo
Wall Street's Tom Lee Says This 'Most Hated' Rally Could Be A Fortune-Maker—And Bitcoin at $250K Isn't Out Of Reach
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. When Wall Street veteran Tom Lee speaks, investors listen. As head of research at Fundstrat Global Advisors, Lee has built a reputation for bold predictions and contrarian calls that often prove prescient. In a recent CNBC interview, the market strategist delivered a compelling case for why current market skepticism could create generational wealth opportunities—and why his eye-popping Bitcoin price target might not be as crazy as it sounds. The Recovery Everyone Loves to Hate Lee describes the market's recent rebound as the 'most hated V-shape bounce in history,' pointing to a critical disconnect between market performance and investor sentiment. During what he calls 'April tariff Armageddon,' fear of recession drove massive liquidations, leaving most investors underexposed when markets staged their dramatic recovery. Don't Miss: Be part of the breakthrough that could replace plastic as we know it— — no wallets, just price speculation and free paper trading to practice different strategies. This positioning creates an unusual dynamic: strong fundamentals meeting widespread skepticism. 'Most investors are currently underexposed,' Lee notes, suggesting significant upside potential as sentiment eventually catches up to reality. Why the Market Is Cheaper Than You Think Challenging the narrative that stocks have become dangerously overvalued, Lee presents compelling valuation data. Despite enduring what he characterizes as 'six extinction-like events' over the past six years—including COVID-19, supply chain disruptions, inflation surges, aggressive Fed rate hikes, Trump tariffs, and geopolitical tensions—S&P 500 earnings have actually grown. More surprisingly, the equity-weighted S&P multiple has compressed from approximately 17.6 times in 2019 to 16 times currently. This suggests the market has become cheaper even as earnings demonstrated remarkable resilience through unprecedented challenges. Trending: Grow your IRA or 401(k) with Crypto – . Apple's AI Ace in the Hole While much attention focuses on the 'Magnificent Seven' tech giants, Lee offers a contrarian take on Apple (NASDAQ:AAPL). He believes the iPhone maker has been 'quietly ready to pounce on AI' and will 'surprise people' with its approach. Drawing parallels to Apple's transformative but late entry into smartphones with the 2007 iPhone launch, Lee suggests that when Apple decides to 'play big in AI,' it will 'change the game.' He emphasizes Apple's competitive advantages in safety, privacy, and user experience optimization—particularly valuable if large language models become commoditized. The strategist also supports speculation around Apple's potential foldable phone launch this fall, noting that larger screens drive users toward 'computing and something much higher capability,' aligning with augmented reality applications in the AI era. The Stablecoin Revolution and Ethereum's Golden Opportunity Lee identifies stablecoins as the 'ChatGPT moment for crypto,' highlighting their growing adoption by businesses, consumers, and major financial institutions like JPMorgan Chase (NYSE:JPM) and Citigroup (NYSE:C). This trend creates significant opportunities for Ethereum, which hosts the majority of stablecoins and generates over 30% of its network fees from this Ethereum approaching a $4 trillion market valuation, Lee sees substantial upside. While technical analysis suggests near-term targets around $5,000, he believes valuation metrics similar to Circle could justify prices between $10,000 and $20,000. The $250K Bitcoin Vision Perhaps Lee's boldest call remains his Bitcoin price target of $200,000 to $250,000, which he maintains 'still makes sense.' His reasoning is straightforward: this would value Bitcoin at just 25% of gold's market size. Looking further ahead, Lee reiterates his belief that Bitcoin 'should be worth over a million per bitcoin' and that this 'could happen in the next few years.' The Bottom Line Lee's message is clear: current market skepticism, combined with resilient fundamentals and emerging technological shifts, creates compelling investment opportunities. Whether through traditional equities trading at compressed multiples, Apple's potential AI breakthrough, or cryptocurrency's institutional adoption wave, patient investors willing to look past short-term noise may find themselves positioned for significant gains. As Lee emphasizes, his goal at Fundstrat remains helping clients 'find good ideas and make money'—and his track record suggests these contrarian insights deserve serious consideration. Read Next: A must-have for all crypto enthusiasts: . Image: Shutterstock This article Wall Street's Tom Lee Says This 'Most Hated' Rally Could Be A Fortune-Maker—And Bitcoin at $250K Isn't Out Of Reach originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Wall Street analyst points one major asset missing from most portfolios
Wall Street analyst points one major asset missing from most portfolios originally appeared on TheStreet. Tom Lee has seen market cycles come and go. But when it comes to one asset class, he believes most investors are still early — and dangerously underexposed. In a new conversation, the veteran strategist made a bold comparison, likening today's adoption levels to the internet circa 1996.'95% of investors have zero Bitcoin exposure. So you're still way ahead if you're buying Bitcoin today. If you look at Bitcoin wallets, comparing it to the Internet, we're back to 1996 levels. The Internet went exponential from 1996. So it's still the earliest days.' Tom Lee is the co-founder and head of research at Fundstrat Global Advisors, a market strategy and research firm. He's a well-known Wall Street analyst with decades of experience covering equities and macro trends. Lee gained recognition for making bold, often early, calls on market cycles — including bullish forecasts on tech and digital assets. For context: back in 1996, less than 1% of the world had access to the internet. Email was still a novelty, websites loaded line-by-line, and few could have imagined what a trillion-dollar digital economy would look like. In his view, the current financial system is sitting at a similar inflection point — and some investors are still treating it like a passing fad. Lee sees the need for secure, trustless systems accelerating in a world where 'nothing is real' — from deepfake voices to AI-generated content. 'I think Bitcoin is very useful, because in the future we're not going to be able to trust anything. There's nothing secure anymore. We can sample your voice… You'll never know what's true anymore. You need to be able to trust a system. The Bitcoin blockchain is the most trusted blockchain.' For institutional players, he believes the writing is already on the wall. 'That's why the United States wants to have a million Bitcoin, US companies are buying Bitcoin [and] banks will soon carry Bitcoin as collateral.'In other words, the so-called 'early majority' may be closer than it looks. Lee didn't stop there. He also pointed to the infrastructure behind stablecoins — which are mostly built on the Ethereum network — as another driver of future growth. 'Stablecoins run on Ethereum. As stablecoins explode…Ethereum is the backbone for stablecoins. So I think Ethereum is going to make a big comeback.' That view is already playing out in the market. As of writing, Ethereum is trading around $2,608, up nearly 3% on the day, while stablecoin supply has quietly expanded over the past 12 months — especially in countries where inflation is high or banking systems are unstable. Wall Street analyst points one major asset missing from most portfolios first appeared on TheStreet on Jul 9, 2025 This story was originally reported by TheStreet on Jul 9, 2025, where it first appeared.
CNBC
07-07-2025
- Business
- CNBC
Is bitcoin price stalling at $100,000? ETF experts debate next crypto trades
After topping $111,000 in May, bitcoin has not been able to break out significantly above the $100,000 range. Some investors may simply be cashing in their chips, according to Tom Lee, managing partner and head of research at Fundstrat Global Advisors, with investors who bought into the coin during much earlier stages of its history now sitting on huge gains. "We have clients that have bought bitcoin at $100," Lee said on a recent edition of CNBC's "ETF Edge." "They don't care if bitcoin goes to a million; they are probably sellers at around $100,000," he said. Even if bitcoin is running into resistance at the $100,000-$110,000 level, other bets in the crypto market have taken off, including the digital assets infrastructure providers, such as Coinbase, which rose by 40% in June, its best month since last November. It was also the only stock in the S&P 500 to double in the second quarter, on top of finishing the quarter with its first three-month rally since 2023. Among the reasons for the boost in the crypto exchange shares, even as the price of bitcoin has stalled: the passage of the Genius Act by the Senate, the success of the Circle IPO, and the recent surge in bullishness about stablecoins. With other cryptocurrencies that have stalled in trading this year, such as ether and solana, investors who have no plans to sell crypto holdings can still put them to work via staking, and it may be a good option during a period when the price isn't gaining in the short-term. Staking allows investors to not only participate in the growth of a coin's value but also be paid for its use within the decentralized financial (DeFi) system that allows people, businesses, or other entities to transact directly with each other. "You can actually generate significant yields," said Dave Nadig, an independent ETF expert and futurist, on "ETF Edge." He added that the income generated from staking is often "a few points above" what an investor might gain from a more typical fixed-income instrument. In some ways, it is a crypto version of a high-interest savings account, but with one key difference being it is not handled by banking institutions but the crypto exchanges and networks, and this has led to issues with regulators in recent history. When you stake crypto, you contribute to the running and security of decentralized networks like ethereum and become a "validator" on the blockchain. Big players in the financial markets, such as BlackRock, do believe in opportunity for staking to grow this year. Robinhood's Johann Kerbrat, general manager of the brokerage company's crypto division, recently spoke to CNBC about its ethereum and solana staking push. "When we talk about mass adoption, this is what it looks like," Kerbrat said of staking and other recent additions to its crypto services. Other investors may be trading in their direct holdings in crypto for ETFs that now offer the same crypto market exposure. "Let's be honest, it's a whole lot easier to transact. It's a lot cheaper as well," said Nadig. Buying the cheapest ETF right now is cheaper than direct cash-to-coin transactions, with some ETF providers waiving all management fees to stoke more early adoption of their recent crypto portfolio editions. For example, VanEck's Bitcoin Trust (HODL) has waived all fees until it reaches $2.5 billion in assets, through January 10, 2026. "Effectively, bitcoin moved from one wallet to another wallet, the wallet now being ETF," Nadig said. The iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) have seen the most action this year overall, with over $15 billion and $2 billion, respectively, of net inflows to the crypto ETFs, as financial advisor and retail investor adoption grows. The company has been waiving a portion of the management fee on the ethereum ETF for up to $2.5 billion in assets, with the 0.25% expense ratio knocked down to 0.12%. Meanwhile, Van Eck has also waived fees on its Van Eck Ethereum ETF (ETHV) until it reached $1.5 billion in assets through July 22 of this year. Disclaimer
