Tom Lee: Crypto's “Killer App” Moment Is Here—Wall Street Can’t Ignore Crypto

Fundstrat’s Tom Lee says stablecoins and tokenization are forcing Wall Street onto the blockchain, with Bitcoin leading the charge.

Crypto has reached a defining moment, according to Tom Lee, head of research at Fundstrat, who believes stablecoins have become the first real “killer app” in crypto, driving mainstream adoption. As stablecoins reshape global payments, Wall Street is now rushing to tokenize assets and financial systems on blockchain networks.

Lee emphasizes Bitcoin’s unmatched resilience. Despite multiple economic shocks—tariffs, inflation spikes, geopolitical tensions—Bitcoin has proven its strength as a digital store of value, much like gold. Corporations are starting to add Bitcoin to their balance sheets, and Lee predicts that banks and even governments might follow, acquiring Bitcoin as a strategic reserve.

While Bitcoin remains the digital gold standard, Lee sees Ethereum as the backbone of financial tokenization, thanks to its smart contracts and dominant role in stablecoins and real-world asset tokenization. He considers Ethereum “the biggest macro trade of the next decade” as Wall Street builds on blockchain rails.