Ethereum Outperforms S&P 500 by 1,696 Basis Points Since U.S.-Iran Conflict, Says Tom Lee

Gate News message, April 27 — Tom Lee, chairman of Bitmine, stated that Ethereum has outperformed the S&P 500 index (U.S. benchmark equity index) by 1,696 basis points since the U.S.-Iran conflict, making it the best-performing single asset globally aside from crude oil. According to Lee, ETH has demonstrated "wartime store-of-value" asset characteristics.

Lee highlighted two key drivers for Ethereum's continued strength: the acceleration of on-chain tokenization by Wall Street institutions and the growing demand from Agentic AI systems for open, neutral blockchains. He added that the current market environment represents the final stage of a "mini crypto winter," suggesting potential recovery ahead.