On Monday, Tom Lee, co-founder of Fundstrat Global Advisors, stated that Bitcoin is likely to extend its rise and could achieve a new all-time high by this month, reinforcing a positive outlook for both cryptocurrency and equity during a CNBC Squawk Box segment.
“I don’t believe bitcoin has reached its peak yet,” Lee commented. “We were overly hopeful about hitting that peak before December, but I genuinely think bitcoin could attain a new all-time high by the end of January 2026. Therefore, it’s premature to conclude that bitcoin, ethereum, or other cryptocurrencies have peaked.”
This statement follows a late-2025 market correction for digital currencies, positioning January as a potential breakout period and marking a significant reinforcement of Lee’s ongoing bullish narrative on cryptocurrencies. In August, Lee forecasted that bitcoin would exceed $200,000 by the end of the past year. Ultimately, bitcoin achieved an all-time high above $126,000 in October, falling short of Lee’s prediction, and closed around $88,500 on December 31, 2025, based on CoinDesk data.
Lee anticipates 2026 to be a turbulent yet ultimately positive year for crypto markets. Nevertheless, he cautioned about short-term instability caused by institutional reallocation before a stronger latter half of the year.
“The year 2026 is likely to exhibit two distinct halves. The first half may be challenging due to institutional rebalancing and a ‘strategic reset’ in the crypto landscape, but that volatility sets the stage for a significant rally in the second half,” he noted.
According to Lee, this reset should not be interpreted as a sign of structural weakness but rather as a necessary adjustment following several years of significant gains in risk assets.
Lee expressed strong optimism for ether, suggesting it is entering a multi-year growth phase akin to Bitcoin’s run between 2017 and 2021. Last year, he projected that ether would reach an all-time high of $15,000 by December. This prediction also missed the mark; the highest price for the cryptocurrency in 2025 was $4,830, while it traded around $3,300 in December. During Monday’s broadcast, he showcased his persistent bullish view on ETH, noting that his crypto mining firm, Bitmine Immersion Technologies, had acquired more ether, now totaling 4.14 million.
“We believe Ethereum is significantly undervalued,” Lee stated. “We think ETH is embarking on a supercycle reminiscent of Bitcoin’s journey from 2017 to 2021.”
He presented the acquisition of ETH as essential for modern treasury management rather than a speculative venture. “Securing an asset with the potential to appreciate by 10 times or more is a strategic requirement for any contemporary treasury,” Lee remarked.
In addition to cryptocurrency, Lee provided one of Wall Street’s most ambitious equity predictions, estimating that the S&P 500 could soar to 7,700 by the end of 2026, backed by robust corporate earnings.
“Given the fundamental strength of the U.S. economy and the productivity gains driven by AI, we envision a route to S&P 7,700 by the end of 2026,” he elaborated. “This is reinforced by an EPS narrative that is far more resilient than bearish perspectives suggest.”
Nonetheless, Lee regarded any potential pullbacks as opportunities rather than threats. “There’s much to be hopeful about in 2026.”
UPDATE (Jan. 5, 2026, 18:05 UTC): Additional details have been added, and Bitcoin’s all-time high price has been corrected.
