Tom Lee Just STUNNED Cathie Wood

Tom Lee just made a huge prediction to

Kathy Wood. We've got two giants from

the market. Check this out.

>> Been saying is you think that the

Ethereum network or market cap uh is

going to flip with Bitcoin. Now Bitcoin

is at about what is it 2.4 trillion now

somewhere around there. And Ethereum is

540 billion. you think there is a

flipping as they might say. Uh I'd love

to hear you talk about it but uh just to

set this up and anyone who's listening

to this podcast knows that um we have in

2030 a forecast of the entire crypto

asset ecosystem. And of course we're

going to be modifying this with time.

We're doing our our big ideas work now.

But as of uh our last um go at this, you

know, the ecosystem we expect to hit $25

trillion in 2030, the vast majority of

that uh in Bitcoin. Uh mostly because we

we look at Bitcoin as, you know, a a

global monetary system, you know,

rules-based that uh we've been missing

since the US went off the gold exchange

standard in 1971. That's a very big

idea. It's a technology uh obviously and

it is the first of its kind and we wrote

a paper in 2016 on this first of its

kind in a new asset class. So those are

three very big ideas. Um I'd love to

hear your thoughts on why ETH uh or the

ecosystem will will surpass Bitcoin.

>> Okay. Well, if I could rewind a little

bit to 1971,

uh, in our chairman's message last

month, we addressed how gold versus Wall

Street grew post 1971. So 1971 was when

Nixon formally withdrew the US from the

gold standard. The immediate beneficiary

was there was demand and a market to own

gold. And so people would say that was

your, you know, first implication.

But when what we wrote about and talked

about in our message was that in 1971

the dollar became fully synthetic

because it was no longer backed by

anything. And so there was risk that the

world would go off the dollar standard.

So in stepped Wall Street to create

products to propagate the future of Wall

Street including and we listed I think

14 products that emerged over the next

decade from money market funds to credit

to mortgage back securities to futures

etc. and dollar dominance by the end of

that period

went from 27% of GDP terms but to 57% of

central bank reserves and 80% of

financial transaction quotes. So Wall

Street

was created products that made the

dollar dominant and the market cap of

equities

um today is 40 trillion compared to 2

trillion for gold. So in other words,

gold is 5% of all available assets. And

so in 2025, we think everything is now

becoming synthetic as we or tokenized,

sorry, not synthetic. So as we move not

just dollars onto the blockchain, which

is stable coins, but we'll move stocks

and real estate,

dollar dominance is going to be the

opportunity of Ethereum. So digital gold

is Bitcoin.

And so in that world, we believe

Ethereum could flip Bitcoin similar to

how Wall Street and equities flipped

gold

um post 71. Now, that is just our

working theory because I am still a

Bitcoin bull. So, I'm very bullish on

Bitcoin and I I believe your uh targets

for Bitcoin are actually reachable. So

I, you know, we think Bitcoin fair value

should at least be 1.5 to 2.1 million,

but we can see higher values, but that

would of course provide upside to a a

neutral smart contract platform where a

lot of Wall Street will innovate of real

world assets.

>> Kathy Wood sees the crypto ecosystem

hitting $25 trillion by 2030. And Tom

Lee thinks Ethereum could flip Bitcoin

by becoming the infrastructure where all

of Wall Street gets tokenized. His

historical parallel is perfect. Gold

didn't lose after 1971, but equities

grew 20 times larger because that's

where financial innovation happened. Tom

Lee thinks Ethereum could flip Bitcoin

by following the exact same pattern as

1971. Gold stayed valuable, but Wall

Street building financial products on

top of the dollar became 20 times

bigger. Tom explains that after 1971

when the dollar became fully synthetic

and no longer backed by gold, Wall

Street created 14 new financial

products, money market funds, credit

instruments, mortgage back securities,

futures, and all of that drove dollar

dominance from 27% of GDP to 57% of

central bank reserves and 80% of

financial transactions. Equities today

are a $40 trillion market cap versus

gold at 2 trillion. Tom believes

Ethereum could flip Bitcoin similar to

how Wall Street and equities flipped

gold. I do think this is an interesting

comparison and from the face of it does

make sense when you understand what

actually happened in 1971.

Nixon took the US off the gold standard

which meant dollars weren't backed by

gold anymore. Gold didn't disappear or

lose value. It actually went up. But

something bigger happened. Wall Street

created an entire financial system on

top of the dollar. money, market funds,

mortgages you could trade, future

contracts, credit cards. All of these

products that didn't exist before. These

financial products built on top of

dollars became worth $40 trillion. Gold

today is only worth $2 trillion. The

infrastructure layer became 20 times

more valuable than the base money layer.

Tom's betting, the same thing happens

with crypto. Bitcoin is digital gold.

You hold on to it as a store of value,

just like people held gold. That's

valuable and important, but Ethereum is

where you buy financial products. Want

to tokenize a stock so people can trade

it 24/7? You do that on Ethereum. Want

to tokenize real estate so you own a

fraction of the building? Ethereum. Want

to create a loan that executes

automatically? Ethereum. All of Wall

Street moving onto blockchain means

stocks, bonds, real estates, everything

gets tokenized. That doesn't happen on

Bitcoin because Bitcoin wasn't designed

for that. It happens on Ethereum because

Ethereum was built specifically to let

people create financial products and

applications. Tom isn't saying Bitcoin

fails. He's saying Bitcoin succeeds as

digital gold with his predictions

reaching 1.5 to$2.1 million per coin.

But Ethereum becomes a platform where

trillions of dollars in tokenized assets

trade. Just like gold stayed valuable,

but Wall Street products became worth

more. Bitcoin stays valuable, but

Ethereum ecosystem potentially grows

larger. Think of it like this. Gold is

valuable for strong wealth, but the

stock market, bond market, and real

estate market combined are way more

valuable than gold because that's when

money actually does things. Bitcoin is

the new gold. Ethereum is the new Wall

Street. Both can win, but historically,

the infrastructure where activity

happens becomes bigger than the thing

people just hold. But there's an even

simpler reason Ethereum might win that

has nothing to do with Wall Street.

Ethereum could potentially flip Bitcoin

simply because you can build things on

Ethereum, but you can't do much on

Bitcoin. And platforms where people can

create always attracts more activity and

value than platforms that just store

money. Tom describes Ethereum as a

neutral smart contract platform where a

lot of Wall Street will innovate real

world assets. Bitcoin and Ethereum have

fundamentally different purposes.

Bitcoin does one thing really well. It's

digital money that can't be controlled

or inflated by governments. That's

incredibly valuable, but that is

basically all it does. You can send

Bitcoin, receive Bitcoin, and hold

Bitcoin. And that's the entire feature

set, which is by design. Ethereum is a

platform where developers can build

whatever they want. You can create apps,

games, financial products, marketplaces,

anything you can program. It's like

comparing a really secure bank vault,

Bitcoin, to an entire city where you can

build businesses, Ethereum. Both are

valuable, but one enables way more

economic activity. This matters because

developers and entrepreneurs go where

they can build. If you have an idea for

a new financial product or application,

you build it on Ethereum because Bitcoin

doesn't let you over time. That means

Ethereum accumulates all the builders,

all the innovation, and all the new

products. Bitcoin stays focused on being

money, which is great, but it means

everything else happens elsewhere. Think

about the internet versus the telephone.

Telephones were amazing for making

calls. Super valuable. But the internet

let you build websites, email, social

media, streaming video, online shopping.

Unlimited possibilities. The internet

became way more valuable than phone

networks because platforms that let

people create beat platforms that do one

thing, even if they do that one thing

perfectly. That's the same dynamic here.

Bitcoin is perfect at being digital

gold. Ethereum is imperfect at lots of

things, but lets people experiment and

build. History suggests a platform with

builders and activity becomes more

valuable than the platform that just

stores value. Even though both are

really important, both can succeed.

Bitcoin's bullcase is becoming the best

way to store wealth outside of

government control. Ethereum becomes a

place where new financial systems get

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