Fundstrat's Tom Lee anticipates a resurgence in the cryptocurrency market once the enthusiasm for precious metals cools down. Lee, the co-founder of Fundstrat Global Advisors, has maintained a consistently optimistic outlook on Bitcoin, even amidst market fluctuations. He believes that Bitcoin will outperform gold in market performance due to economic structural changes and the increasing adoption of digital assets.

Lee's analysis suggests that the rise of gold indicates a level of fear in the market, with the precious metal potentially acting as a gauge of bearish sentiment. Despite this, he asserts that Bitcoin serves dual functions: it acts as a risk-on asset and also provides a hedge against systematic risk. Lee posits that in a scenario where the dollar faces debasement, investors would seek refuge in both Bitcoin and gold.

Notably, Lee had previously stated that Bitcoin is gradually replacing gold, viewing it as "digital gold". He also developed models based on network effects, noting that usage per number of wallets and usage per wallet explained a significant portion (90%) of Bitcoin's price rise. This model allowed him to explain Bitcoin's price movement, even to those who might not fully grasp the intricacies of the cryptocurrency. He had also compared Bitcoin to gold, suggesting that Bitcoin's price value could increase at some ratio to gold.

Furthermore, Fundstrat's Tom Lee has set a price target for Bitcoin between $200,000 and $250,000. Lee believes that economic structural changes and the adoption of digital assets are key factors for the expected superiority of Bitcoin.