Tom Lee: ETH has already acquired the attributes of a wartime store of value asset, second only to crude oil following the U.S.-Iran conflict.

According to PRNewswire, Tom Lee, Chairman of Bitmine, stated that since the U.S.-Iran conflict, ETH has outperformed the S&P 500 Index by 1,696 basis points, making it the world’s best-performing single asset—second only to crude oil—and establishing its status as a “wartime store of value.” Tom Lee added that Wall Street’s accelerating adoption of on-chain tokenization, along with Agentic AI systems’ demand for open, neutral blockchains, will continue to benefit Ethereum. His baseline expectation is that the market is currently in the final stage of a “mini crypto winter.”