Tom Lee sees $2 trillion wealth transfer fueling crypto demand as Bitmine buys more ether
- Wall Street veteran Tom Lee sees a wealth transfer of up to $2 trillion between 2026 and 2028 as a potential driver of digital asset demand.
- Bitmine bought another 12,532 ETH last week, worth about $32 million at current prices, leaving it only weeks from achieving its goal of owning 5% of ether’s supply.
- Lee said Bitmine will stop buying ETH after reaching that target.
Tom Lee, chairman of ether ETH$2,527.81 treasury firm Bitmine BMNR$24.02, said he sees a wave of inherited wealth flowing to younger investors as a potential driver of the next crypto bull market.
Lee, a Wall Street veteran who also co-founded financial research and asset management firm Fundstrat in 2014 and serves as its chief investment officer, pointed to estimates from the U.S. Internal Revenue Service (IRS) and Fundstrat suggesting between $1.5 trillion and $2 trillion in wealth could change hands from 2026 through 2028.
"The wealth transfer underway is expected to support the upcoming crypto bull market as those inheriting wealth are younger and likely have a higher risk appetite for crypto and equities," Lee said in a Monday statement.
His remarks echoed what Vlad Tenev, CEO of digital brokerage Robinhood, highlighted in an interview with CNBC's Jim Cramer last month, saying more than $100 trillion in wealth is set to pass from older to younger generations over the coming decades.
The idea is that younger investors may put more of their inherited money into crypto than previous generations, adding another source of demand. How much of that wealth will actually reach digital assets, though, is unclear.