Fundstrat's 2% Bitcoin Bet Now Makes Up 85% of Client Portfolios

Tom Lee, founder of Fundstrat and Chairman of Bitmine, has been advocating for Bitcoin investments since the early days of cryptocurrency. He told Wealthion in an interview that his firm's original 2% bitcoin allocation recommendation over a decade ago has grown to more than 85% of the average portfolio for clients who followed it.

This is not because clients kept buying, but rather due to the significant price appreciation of Bitcoin. Lee estimated that around 80-90% of investors still have no exposure to crypto at all, despite owning gold and participating heavily in stocks.

Lee believes that crypto has already gone through one of its uglier parts of its cycle, which he calls a 'crypto winter.' He thinks the current market is gearing up for another big run, with leverage returning and the 4-year cycle turning.

The timing of Lee's comments matters as he believes the next 12 months will be bullish for crypto. He points to the recent performance of Bitmine, which climbed 99% in Q3, and the growing adoption of blockchain technology on Wall Street.