{"id":25171,"date":"2026-04-06T17:17:59","date_gmt":"2026-04-06T17:17:59","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-climbs-to-no-2-wartime-asset-tom-lee-says\/"},"modified":"2026-04-06T17:18:07","modified_gmt":"2026-04-06T17:18:07","slug":"ethereum-climbs-to-no-2-wartime-asset-tom-lee-says","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-climbs-to-no-2-wartime-asset-tom-lee-says\/","title":{"rendered":"Ethereum climbs to No. 2 \u2018wartime\u2019 asset, Tom Lee says"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p>Tom Lee says Ethereum has become the No. 2 \u201cwartime\u201d asset, outpacing Bitcoin and stocks as war spending surges and crypto gains appeal as a liquidity and risk trade.<\/p>\n<div id=\"cn-block-summary-block_e8521e8ec6e85306740a890ea8b647ea\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Fundstrat\u2019s Tom Lee says Ethereum is now the second best-performing asset since the Middle East conflict began, ahead of Bitcoin and stocks.<\/li>\n<li>Lee estimates war spending at $30b per month, rising potentially to $100b, while $10 moves in oil add only $4b\u2013$5b in monthly consumer pressure.<\/li>\n<li>He argues this backdrop makes crypto more attractive as \u201cliquidity and risk assets,\u201d boosting allocation demand for Ethereum and Bitcoin.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Since the latest Middle East conflict escalated, Ethereum has become the second best\u2011performing major asset globally, trailing only top safe\u2011haven trades and beating both Bitcoin and equities, according to Fundstrat co\u2011founder Tom Lee. In a recent post shared by the TomLeeTracker X account, Lee said that while \u201ccrypto has been outperforming since the war started,\u201d Ether has led the pack, with Bitcoin ranking third and both digital assets \u201csignificantly\u201d outpacing the stock market.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Lee quantified the current war impulse at roughly $30 billion per month in additional government outlays and warned that this figure \u201ccould rise to a scale of $100 billion\u201d if the conflict broadens, effectively turning defense budgets into a persistent fiscal shock. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">TOM LEE: ETHEREUM IS THE 2ND BEST ASSET SINCE THE WAR STARTED<\/p>\n<p>He also says:<br \/>\u2013 War spending: $30B\/month, heading to $100B<br \/>\u2013 Every $10 in gas = only $4-5B\/month consumer hit<br \/>\u2013 Bitcoin #3 \u2026 both beating equities outright <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/jqxllAH0RS\">pic.twitter.com\/jqxllAH0RS<\/a><\/p>\n<p>\u2014 Tom Lee Tracker (Not actually Tom) (@TomLeeTracker) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/TomLeeTracker\/status\/2041164524250939508?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">April 6, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>By contrast, he argued that the drag from higher oil is smaller than many investors assume, saying each $10 increase in crude prices adds only about $4 billion to $5 billion per month in pressure on US consumers. That arithmetic, Lee contends, means the net macro effect still leans toward stimulus rather than contraction, even with oil near $100 per barrel.<a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=EoBEMIZuSYQ\" target=\"_blank\" rel=\"nofollow\"><\/a><\/p>\n<h1 class=\"wp-block-heading\" id=\"ethereums-outperformance-in-wartime\">Ethereum\u2019s outperformance in wartime<\/h1>\n<p>Fundstrat\u2019s March research, cited by Lee and first reported by DL News and Yahoo Finance, shows Ethereum up roughly 17% on a relative basis versus the S&amp;P 500 since the US\u2011Israeli conflict with Iran began in late February, beating Bitcoin, gold, real estate, MSCI World Energy and the \u201cMagnificent 7\u201d tech stocks. \u201cAs a wartime store of value, crypto looks a lot stronger,\u201d Lee said, adding that \u201ccrypto has been outperforming since the war started while gold has actually underperformed,\u201d a view echoed in his call to \u201cditch gold, buy crypto\u201d during the conflict.<\/p>\n<p>Ethereum\u2019s performance is also underpinned by structural factors, including a market cap near $230 billion, growing institutional positioning and a staking rate approaching 30% of total supply that tightens available float. Lee, a long\u2011time Ether bull who chairs Bitmine Immersion Technologies, has maintained a long\u2011term price target of $250,000 for ETH and recently backed that stance with action, as Bitmine disclosed another $133 million purchase that lifted its Ethereum holdings above $9 billion.<\/p>\n<h1 class=\"wp-block-heading\" id=\"crypto-as-liquidity-and-risk-assets\">Crypto as \u201cliquidity and risk assets\u201d<\/h1>\n<p>Against this backdrop of elevated fiscal spending and volatile energy prices, Lee says the allocation value of crypto as both \u201cliquidity and risk assets\u201d is rising. He argues that defense outlays and still\u2011accommodative financial conditions create a powerful liquidity environment in which high\u2011beta assets such as Ethereum and Bitcoin can benefit disproportionately, even as headlines are dominated by war and oil shocks. In earlier research notes covered by outlets like MarketWatch and other financial media, Lee has emphasized that \u201cstock markets bottom in the early stages of military conflict,\u201d suggesting the recent outperformance of Ether and Bitcoin could be an early signal of how capital will be repriced if the conflict and spending surge persist.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tom Lee says Ethereum has become the No. 2 \u201cwartime\u201d asset, outpacing Bitcoin and stocks as war spending surges and crypto gains appeal as a liquidity and risk trade. Summary&hellip;<\/p>\n","protected":false},"author":1,"featured_media":12580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=25171"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25171\/revisions"}],"predecessor-version":[{"id":25172,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/25171\/revisions\/25172"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/12580"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=25171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=25171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=25171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}