- Tom Lee said smart-contract blockchains like Ethereum could become society’s best defense against AI, arguing they provide transparent, programmable infrastructure for an AI-driven economy.
- Lee believes Ethereum’s recent weakness marks a bottom, citing easing macro headwinds and technical indicators that could support a move toward $2,200.
- He also highlighted BitMine’s growing ETH treasury, saying the firm is steadily accumulating Ethereum while targeting ownership of up to 5% of the network’s supply.
According to Tom Lee, the co-founder of Fundstrat, smart contract blockchains could prove to be the best defense for society as artificial intelligence assumes a larger share in the global economy. During his speech at the WebX 2026 conference, Lee explained that Ethereum is all set to move into a new phase of growth after a challenging year.
On July 13, Lee, chairperson of Ethereum treasury firm BitMine Immersion Technologies, delivered a special keynote at WebX. In anticipation of the event, Lee referred to the session as an exploration of the “Uncanny Valley of Wealth,” and mentioned to his followers on X that the ETH/BTC ratio is a “signal of a revival of crypto” before taking the stage.
The scenario Lee is warning about
Lee focused mainly on the concept whereby AI agents can make money and carry out transactions without any human involvement at all. He outlined a scenario in which an individual wakes up one day only to find that an AI has labeled him as irresponsible in terms of finances and that his bank account has been frozen. In that case, he claimed, concerns arise as individuals ponder if they continue to be in control of technology, or it is the other way around, and the machines are running the show instead.
Come by today for @WebX_Asia at 11:25am at the CYRL Stage at the Prince Park Tower Tokyo 🇯🇵
— Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) July 13, 2026
I will be speaking about the “Uncanny Valley of Wealth”
PS: keep an eye 👁️ on $ETH / $BTC ratio. Signal of a revival of crypto https://t.co/jwktsEJQhG pic.twitter.com/oTqMFiFi16
Lee stated that he believes that there is currently a greater visible public skepticism regarding AI. As CoinPost reported, he cited the student walkout at Stanford commencement proceedings where a Google executive gave a speech and a radical anti-AI group called “Zizians” which has been accused of targeting data centres and founders of AI. He also claimed that machines contributed to 75 percent of trading done on Polymarket, and that they were responsible for more than half of website traffic and almost half of received emails.
For Lee, those developments lead to the same conclusion; existing institutions are unlikely to provide adequate protection on their own. “Smart contract blockchain is the best defense against AI taking over your life,” he noted, describing the combination of blockchain with AI as an emerging “agentic economy.”
His point of view is reflective of a larger discussion happening in the tech space. The venture capital company a16z Crypto claimed that blockchains allow AI agents to possess certain features that typical financial institutions can’t easily provide, such as programmable payments, verifiable identity, digital ownership, and transparent execution.
At the same time, the OECD drew attention to the growing necessity for enhanced accountability and trustworthy governance as agentic AI systems are becoming ever more economically influential. Lee’s thesis puts blockchain at the core of this accountability system.
Why Lee thinks Ethereum’s slump is a bottom
Lee paired that long-term vision with a bullish outlook for Ethereum, even as the asset traded near $1,700 during the keynote.
He pointed out that there are four major pressure points for Ethereum: tightened monetary policy in the United States, uncertain fate of the proposed US CLARITY Act, funds switching from cryptocurrency to AI, and downturn in the financial sector. However, in Lee’s opinion, these problems are starting to wane.
In support of the argument, Lee referred to the analytical work of market-timer Tom DeMark, which revealed the correlation of Ethereum with the recovery pattern of the S&P 500 during 1987, indicating an 89.81% correlation, and predicted that Ethereum would recover in August.
Lee also quoted Ex-Bank of America’s strategist Steve Suttmeier on July 9 in relation to Ethereum, where he indicated that the price of Ethereum going above the resistance zone of $1,846-$1,876 could open the doors to reach the price of $2,200.
Those levels are indicators of the significance of Lee’s thesis. Starting with the initial quoted amount of around $1,700, Ethereum would need to increase by 8.6% in order to achieve the lower resistance boundary and by 10.4% in order to reach the upper limit. The price crossing the $2,200 mark would mean an increase of about 29.4% from that amount.
Lee drew a parallel between the position of Ethereum and the cases of Amazon and Nvidia, two corporations that experienced many years of mediocre performance prior to their periods of exceptional growth. He stated that Ethereum’s next growth phase is going to be based on four components: the reconstructed Ethereum Foundation, development of agentic AI, Ethereum’s position as a settlement layer in finance, as well as the idea that “ETH is money.”
BitMine’s accumulation
Lee also shared an update about BitMine’s strategy regarding Ethereum. BitMine revealed it owned about 5.74 million worth of Ethereum, or approximately 4.8% of Ethereum’s overall circulating supply. The company went on to state that the total value of its cryptocurrency and cash reserves had reached an impressive $11.1 billion, and that nearly 85% of the assets in its Ethereum holdings had already been staked ‘via its MAVAN operations’.
The figures correspond with what Lee said in the presentation and indicate that BitMine is making efforts to become one of the largest institutional holders of Ethereum. Independent news source Decrypt has reported that the firm is continuously growing its treasury in 2026 while attempting to achieve its overall goal of owning approximately 5% of the network’s supply.
Lee claimed that there is no rush to cross that mark. He remarked that Vitalik Buterin, co-founder of Ethereum, has said before that no organization should control more than 5% of the network in order to preserve decentralization. The investors’ next big concerns are tracking whether Ethereum can break decisively through the resistance barrier of $1,876, as well as how much progress has been made by Bitmine toward achieving its accumulation objectives.
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FAQs
What did Tom Lee say about AI and blockchain at WebX 2026?
Lee argued that as AI agents begin generating more wealth than humans, smart-contract blockchains offer the best defense against AI controlling people's finances, per CoinPost's report of his July 13 keynote.
How much Ethereum does BitMine hold?
CoinPost reported BitMine held roughly 5.74 million ETH, about 4.8% of the supply, with around 85% of it staked, as Lee works toward a target of 5% of all ETH.
Why does Tom Lee think Ethereum could rebound?
Lee cited analysis from Tom DeMark and former Bank of America strategist Steve Suttmeier, who wrote on July 9 that clearing resistance near $1,876 could push ETH toward $2,200, about 30% above its price during the talk.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Ashish Kumar
Ashish Kumar is a crypto and financial journalist with eight years of newsroom experience. He covers what’s happening with crypto markets, regulation, DeFi, and exchange ecosystems. He has worked with Coingape, Todayq, and Newsroompost. Ashish holds a PGDP in English Journalism from the IIMC. He has also interviewed industry figures including Arthur Hayes, Yat Siu, Austin Federa, and more.
