Tom Lee: About 99% of financial activity is still on traditional infrastructure
Bitmine Chairman and Fundstrat co-founder Tom Lee said in a recent interview that about 99% of financial activity is still running on traditional financial infrastructure. He pointed out that this situation could create misleading near-term bias, causing investors and companies to underestimate the development potential of the crypto market.
Lee said that because cryptocurrencies are still seen as a niche area, financial institutions may overlook the speed at which the traditional financial system is shifting to crypto infrastructure. He warned that banks that have not yet laid out crypto businesses or related infrastructure may face a competitive disadvantage, and he drew a comparison with large companies in history that failed to make the transition in time.
The related comments come from a retelling of Lee's public remarks, and the core view is a personal observation rather than the result of an independent data audit. Bitmine is an Ethereum treasury company, and Lee also serves as its chairman.
Original sources:
Title: TOM LEE SAYS 99% OF FINANCE STILL RUNS ON TRADITIONAL RAILS, BUT THAT COULD BE MISLEADING Publisher: Tom Lee Tracker (@TomLeeTracker) Date published: 2026-10-25 URL：https://x.com/TomLeeTracker/status/2114311016217534943 Nature of source: third-party transcription/video excerpt Verification status: This article actually read the post and the attached video frames and subtitles; verification date 2026-10-25 Supporting content: Excerpts from Lee's public remarks about about 99% of activity still on traditional financial rails, near-term bias, and bank risk
Title: 🚨 TOM LEE SAID: "Most investors and companies believe crypto is still a niche because they can point to the current world where 99% of everything happens on traditional financial rails..." Publisher: Tom Lee Tracker (@TomLeeTracker) Date published: 2026-10-18 URL：https://x.com/TomLeeTracker/status/2111912419085951067 Nature of source: third-party transcription Verification status: This article actually read the post; verification date 2026-10-25 Supporting content: A quotation of Lee's original words, supporting the 99% and near-term bias statements
ABAB AI Insight
Based on the verified conversation content, Lee links the observation that about 99% of activity is still on traditional rails to a possible near-term bias, arguing that this causes institutions and investors to underestimate the pace of transition. This statement is an opinion and analogy rather than an independent statistical measurement of the share of financial activity.
The talk also includes analogies to historical companies such as NCR and MCI that failed to transform in time, to illustrate the risks that institutions without crypto rails may face. The material read does not provide the data source, statistical basis, or specific interview date and full context for this share, nor does it independently verify Bitmine's current holdings figures and their direct connection to this view.
The existing material supports the factual report that Lee raised this observation and risk warning in public remarks, but it is not sufficient to treat the 99% figure or the judgment on the pace of transformation as confirmed data. The actual progress of infrastructure transformation across different institutions still needs to be observed separately.
ABAB News · Law of Cognition
The current share observation and the near-term bias judgment can be stated together, but they do not automatically constitute quantitative proof of the pace of transformation.
Historical corporate transformation cases can be used as analogies, but the differences from the current changes in financial rails must be preserved.
Risk warnings in a personal public talk and a company's holdings strategy are different levels of statement.