Tom Lee Sees January Bitcoin Record, Warns of Volatile 2026
Fundstrat Global Advisors co-founder Tom Lee said Monday that bitcoin (BTC $92,248.07) has not yet peaked and could hit a new all-time high as soon as January, reinforcing a bullish outlook for crypto and equities during a CNBC Squawk Box appearance.
“I don’t think bitcoin has peaked yet,” Lee said. “While we were overly optimistic about reaching the high-water mark before December, I believe bitcoin can set a new all-time high by the end of January 2026. Bitcoin, ethereum, and other cryptocurrencies still have room to grow.”
The call follows a late-2025 pullback in digital assets. In August, Lee predicted bitcoin would surpass $200,000 by year-end; it ultimately reached $126,000 in October and traded near $88,500 on Dec. 31, 2025.
Lee expects 2026 to be volatile but constructive. “The first half may be challenging as institutions rebalance, but this reset sets the stage for a stronger second half,” he said, describing it as a normal digestion after years of outsized gains.
He is also bullish on ether (ETH), likening its outlook to Bitcoin’s 2017–2021 expansion. His crypto mining firm, Bitmine Immersion Technologies, now holds 4.14 million ETH. “Ethereum is dramatically undervalued. Exposure is a strategic necessity for modern treasuries,” Lee said.
On equities, Lee forecasted the S&P 500 could reach 7,700 by year-end 2026, citing resilient corporate earnings and AI-driven productivity. “Any pullbacks should be viewed as opportunities. There’s a lot to be optimistic about,” he concluded.
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