Tom Lee: Ethereum Is the World's Best-Performing Asset Since the Middle East Crisis Began!

BitMine Chairman Tom Lee told attendees at Paris Blockchain Week 2026 on May 5 that Ethereum has outperformed every major asset class since the Middle East crisis began — including energy stocks — beating the S&P 500 by nearly 20 percentage points over the same period.

Lee argued that if markets can absorb the ongoing geopolitical pressure and the U.S. economy holds up under higher oil prices, the current crypto bull market could extend all the way into 2028. He framed Ethereum's recent price action as a deep consolidation phase rather than a structural breakdown.

On the demand side, Lee pointed to tokenization and agentic AI as the next likely catalysts — specifically stablecoins, tokenized stocks, tokenized reputation systems, and AI-driven payment demand as the structural forces that could power Ethereum's next leg higher.