Key Takeaways
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Tom Lee expects Ethereum to outperform Bitcoin in the second half of 2026.
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Lee continues to defend his long-term Ethereum thesis.
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Lee’s $62,000 Ethereum scenario would require a $7.5 trillion market cap.
Fundstrat co-founder Tom Lee said Ethereum could outperform Bitcoin during the second half of 2026, arguing that three key factors could lift the ETH/BTC price ratio despite its continued muted underperformance.
The remarks add to Lee’s long-running bullish Ethereum thesis and revive scrutiny over a series of ambitious price forecasts that have yet to materialize.
BitMine, Lee Sees Ethereum Outperforming Bitcoin
On Thursday, BitMine said in a post on X that several structural trends favor Ethereum gaining relative to Bitcoin during the second half of the year.
“As 2H 2026 starts, a key ratio is ETH/BTC price ratio,” the company wrote.
BitMine said expanding stablecoin adoption, continued tokenization, and new Ethereum-based corporate spin-offs all support the ratio moving higher.
The company also pointed to macroeconomic factors, arguing that declining oil prices could ease inflationary pressures while crypto adoption continues to benefit from advances in artificial intelligence.
It additionally cited the continued progress of the CLARITY Act and the implementation of the GENIUS Act as key to its growth.
“We expect this ratio to rise throughout 2026. This ratio will be important to watch,” BitMine wrote.
Lee later shared the post, arguing that Ethereum’s investment narrative was becoming increasingly compelling.
“There are reasons for ETH/BTC price ratio to rise in 2H2026,” Lee wrote.
“In short, ETH is money narrative likely gains traction.”
Lee’s Remains Bullish on Ethereum
Lee has repeatedly argued that Ethereum’s long-term fundamentals remain intact despite periods of weak price performance.
Earlier this year, he attributed Ethereum’s decline largely to macroeconomic factors rather than deteriorating fundamentals.
“If one is wondering why Ethereum has been under selling pressure, to me, rising oil prices is the biggest headwind,” Lee wrote in May, describing the weakness as “short-term tactical noise.”
Despite recent market weakness, Lee has continued to reject claims that the crypto investment case has broken down.
“Crypto has been disappointing because crypto should move with equity markets,” Lee said in a CNBC interview.
“I think there are what I call ‘rage quitting’ people selling here as if something is wrong.”
“If someone asked me, is the thesis for Bitcoin or Ethereum broken, it’s absolutely not.”
Source: Original Article
