Tom Lee Says Ethereum and Bitcoin Are Beating Equities

• Tom Lee says Ethereum is the second, and Bitcoin ranks as the third-best performing asset since the war started.
• He puts wartime spending at $30 billion a month and says it could rise to $100 billion.
• US gas prices have risen to about $4.02 a gallon, up roughly 35% since the war began. 

Tom Lee is framing the current war shock as a macro event with two competing forces. On one side, higher energy prices are squeezing consumers and keeping inflation risk alive. On the other hand, he says wartime spending is acting as a much larger economic stimulus, which is helping support growth and keeping select assets resilient.

In comments highlighted by Tom Lee Tracker from his CNBC appearance, Lee says Ethereum is now the second-best performing asset since the war started, behind energy stocks, while Bitcoin ranks third. He adds that both crypto assets are beating the equity…

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