Why Tom Lee Thinks Ethereum Will Be the Biggest Macro Trade

Tom Lee, co-founder of Fundstrat and Chairman of BitMine Immersion Technologies, has called Ethereum (ETH) the ‘biggest macro trade for the next decade.’

While acknowledging Bitcoin’s (BTC) role as a store of value, he emphasized that Ethereum is increasingly crucial in the digitalization of assets.

Is Ethereum the Future? Tom Lee Unveils the Crypto Bet of the Decade 

In a recent Coin Stories interview with Natalie Brunell, Tom Lee, who has long championed Bitcoin and is also an Ethereum advocate, stressed that there is no conflict between the two. Why? Because both Bitcoin and Ethereum serve a unique and valuable role in the crypto ecosystem. 

He sees Bitcoin as a store of value and noted that it’s replacing gold. However, he emphasized that Ethereum’s utility extends beyond value storage. Lee explained that the world is shifting towards digitalization, and Ethereum plays a pivotal role in that.

“So we’re storing information, and we’re tokenizing businesses…and the dollar….Stablecoins are now actually big buyers of treasuries collectively. You don’t have to worry about deficits because stablecoins will buy the debt. That is the ChatGPT moment for crypto because what’s happened is that the first killer app for crypto has emerged that is now seeing widespread adoption, which is stablecoins,” he said.

He added that this shift has encouraged Wall Street to tokenize assets and explore blockchain for financialization. This requires smart contracts. 

While Bitcoin paved the way by showing that digital assets can create value, Lee believes that Ethereum, with its secure and legally compliant platform, is the go-to choice for stablecoins and tokenizing assets. 

“In 2017, when I first wrote about Bitcoin, I saw this as the time when Wall Street would eventually come to recognize that Bitcoin is important….Well, I think Ethereum is having its 2017 moment now because now is the time that Wall Street will take tokenization seriously, and it’s taking place on Ethereum. I do think it is the biggest macro trade for the next decade,” Lee remarked.

The BitMine executive also argued that the risks associated with Ethereum are minimal compared to the fragility of the traditional financial system. He pointed out that even leading institutions like JP Morgan face suspicious transactions. In this context, Ethereum offers superior security and resilience.

When asked which asset he would choose to invest in for the next 10 years, between BTC and ETH, Lee said,

“If I had to choose because I’m chairman of BitMine, which is an Ethereum treasury, then of course I would choose Ethereum.”

The comments come as BitMine continues to double down on its ETH bet. BeInCrypto reported that the firm’s holdings surpassed 833,000 ETH earlier this week, making it the largest corporate ETH treasury.

Meanwhile, Lee and BitMine aren’t alone in their bullish outlook on Ethereum. BitPay’s Chief Revenue Officer, Bill Zielke, recently highlighted Ethereum’s continued adoption in an exclusive interview with BeInCrypto.

“Among BitPay users and merchants, it consistently ranks as the third most popular blockchain for crypto payments. And when it comes to stablecoins, whose usage has surged in recent quarters, Ethereum takes an even larger share of the pie. In 2025, payments and payouts on Ethereum account for 95% of BitPay’s stablecoin volume,” Zielke commented.

He pointed out that Ethereum is maturing into a scalable, modular ecosystem that balances decentralization with performance. These advancements are crucial for unlocking a wider range of use cases.

These include microtransactions, enterprise-scale payment infrastructure, and more, further solidifying Ethereum’s position in the changing digital economy.