Fundstrat's Tom Lee Backs BlackRock's Bullish Bitcoin Call Amid AI Era

Tom Lee, head of research at Fundstrat Global Advisors and Chairman at Bitmine Immersion Technologies (BMNR), believes crypto is more relevant today due to the rapid advancements in AI and robotics.

He echoed BlackRock's view that Bitcoin's long-term investment case remains intact despite a roughly 50% drawdown from its October 2025 high.

Lee also stated that Ethereum would be 'the most important L1,' referring to layer-1 blockchains, the base networks on which decentralized applications are built.

BlackRock's report explained that Bitcoin's drawdown was driven by crypto-native deleveraging and shifting investor flows rather than a breakdown in its long-term investment thesis.