Summary
- Tom Lee, chairman of BitMine, said he expects Bitcoin to post a higher return than gold this year.
- He said the recent crypto market decline reflects the impact of volatility in gold’s market capitalization and margin calls weighing on risk assets broadly.
- Lee said now is a time to look for buying opportunities rather than selling, and that Ethereum may need to briefly fall below $1,800 to form a “perfected bottom.”
Tom Lee, chairman of BitMine, said he expects Bitcoin (BTC) to post higher returns than gold this year.
According to CoinDesk on the 11th (local time), Lee attended the “Consensus Hong Kong 2026” conference in Hong Kong and said, “There’s a high probability that gold prices have already peaked this year,” adding, “Bitcoin is poised to outperform gold within the year.”
He pointed to volatility in the precious-metals market as a key driver behind the recent downturn in the crypto market. Last month, gold’s market capitalization saw volatility on the scale of trillions of dollars in just a single day, triggering margin calls (additional collateral requirements), which in turn weighed on risk assets broadly, including cryptocurrencies, Lee said. “This is a time to look for buying opportunities rather than selling,” he added.
He also commented on Ethereum’s (ETH) price outlook. Lee said, “Since 2018, repeated corrections in the 50% range have typically been followed by sharp rebounds,” adding, “For Ethereum to enter a sustained recovery, it may need to briefly dip below $1,800 to form a ‘perfected bottom.’”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
