Tom Lee & Arthur Hayes: How Crypto Flips Wall Street

Bankless

Tech News, Technology, News

4.7 • 1.2K Ratings

🗓️ 13 October 2025

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tom Lee and Arthur Hayes map how crypto is flipping Wall Street: BTC at fresh highs, ETH’s comeback, and a surge of institutional capital, tokenization, and stablecoin rails. Tom lays out Bitmine’s big ETH accumulation and bold targets (BTC $200–250k, ETH $10–12k), while Arthur dives into cycles, liquidity, why perps outshine leveraged ETFs, and the looming clash between prediction markets and TradFi. Plus: banks turning into on-chain tech companies and what Tether’s rise signals for the new banking stack. Please visit https://fundstrat.com/tom for complimentary access to Tom Lee's daily market updates, real-time market alerts, live webinars, and curated stock lists. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAXNET | MINT, REDEEM, EARN https://bankless.cc/fraxnet 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR L2 NETWORK https://bankless.cc/Mantle 🌳KGEN | REQUEST A DEMO https://bankless.cc/KGEN-podcast 🐂BULLISH | TRADING COMPETITION https://bankless.cc/trading-competition 💠BIT DIGITAL ($BTBT) | ETH TREASURY https://bankless.cc/bit-digital We’re being compensated by Bit Digital (NASDAQ BTBT) for this segment promoting their company and BTBT. The compensation is paid in cash as a one time payment. You can find additional information about Bit Digital and BTBT on their Investor page at https://bit-digital.com/investors ------ TIMESTAMPS 0:00 Intro 0:42 BTC All Time Highs 5:07 ETH Performance & Bitmine 9:32 DATs Market 15:26 4-Year Cycles 25:32 5% Bitmine’s Target 28:00 Tom’s Involvement in Ethereum 32:42 ETH’s Position 38:37 Compute for Finance 40:53 Tether’s $500B Valuation 44:57 USDT Flips BTC? 46:35 Crypto Equities 48:26 Hacks & Exploits 50:39 Financial Entertainment 55:13 Perps 58:38 Price Targets 1:00:45 2026 Wish List 1:03:06 Closing & Disclaimers ------ RESOURCES Tom Lee https://x.com/fundstrat Arthur Hayes X - https://x.com/cryptohayes IG - https://www.instagram.com/cryptohayes/ LinkedIn - https://www.linkedin.com/in/arthur-hayes-b493b42/ Substack - https://cryptohayes.substack.com/ Bitmine https://bitminetech.io/ Fundstrat https://fundstrat.com/tom Maelstrom https://maelstrom.fund/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

Transcript

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0:00.0	What do you think the year-end ranges will be for both Bitcoin and ETH?
0:04.7	So I'm going to stay consistent.
0:06.9	$250,000 Bitcoin, $10,000 Eath.
0:10.2	Yeah, but by year-end, our target for Bitcoin is $200,000 to $250,000.
0:16.3	And for Ethereum, somewhere between 10 and 12,000 people.
0:24.2	Bankless Nation, happy to introduce you to the world's largest E-tholder, the chairman of BitMine, Tom Leap.
0:29.8	Welcome back to Bankless.
0:31.1	Thanks for having me.
0:32.0	I'm glad to be back.
0:32.8	And we also are joined by the creator of the perpetual swap Arthur Hayes.
0:38.0	Arthur, welcome back to Bankless as well.
0:40.2	Yo, yo, what's up?
0:41.6	So pretty exciting times in the market.
0:43.0	You guys just got finished with token 2049, so everyone's kind of recovering and reflecting
0:47.5	as to what went on over there.
0:49.0	But meanwhile, on the day of recording, we have a Bitcoin all-time high.
0:53.3	A new Bitcoin all-time, I have $126,000.
0:56.6	So I just obviously have to start there. Tom, when you see the Bitcoin all-time high price,
1:02.6	not blowing it up, but like, you know, making meaningful, you know, chunks away,
1:08.1	chipping away at that higher and higher price. What do you make in the market right now? One, I think it's good to see Bitcoin at all-time highs as we're entering the fourth
1:16.9	quarter and not correcting or in the 90,000 level because we are in that seasonally strong
1:24.3	period and the Fed is easing monetary policy. So I'd say it's good to
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