Tom Lee: 2027 Will Bring The Biggest Stock Market Gains Ever

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AI와 블록체인이 금융 인프라의 필수 해법이며, 스테이블코인 확산과 이더리움 중심 가치 축적을 전망. 2027년은 AI로 인한 기업 이익 급증과 완화적 중앙은행 정책이 맞물려 생애 최대 주식 랠리가 될 수 있다고 주장. 근거로 Tether 수익성, 토지 가치 상승 연구(MIT·네덜란드 사례), AI에 따른 마진 확장 논리를 제시.

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01. But how are we going to bring back the interest of the stock markets to crypto? Well, this is a story that unfolds gradually. I mean , memory will be overrated. People are returning to the " Big Seven" and to software because, looking to the future, they understand that software plays a very important role at the implementation level.

02. But when it comes to artificial intelligence, blockchain is literally the only solution. And also, with everything that's going on, ultimately, Wall Street would work better on blockchain. This is not even discussed. This is a known fact, isn't it? Because Tether, as an issuer of stablecoins, makes more money than any bank in the world, except for ten.

03. And Jane Street, which really proves that moving money is very profitable, well , I mean, blockchain, you know, you can do everything that Wall Street and the banking industry do , on blockchain. So there is no what I call an intermodal threat. Intermodal means is there another technological solution that makes blockchain unnecessary ?

04. And there is no such thing. Yes. And this applies to both AI and financial services. I think one of the main principles that we see at these conferences is that so many institutions that are now creating stablecoins are building out the infrastructure layers to actually bring the economy online. What do you think the future holds, or how do you view stablecoins in general at this point?

05. And do we need 50 different species? This is still being decided. Well, you know, stablecoins, uh...You know what? This is still undecided. I can imagine a world where there are hyperlocal stablecoins issued by MGM community banks. and strengthen the local community, but then every community bank gets JP Morgan-level capabilities .

06. Yes. This makes a lot of sense to me, because that's how technology is supposed to work, right? They provide opportunities to the general public. But then I can imagine a world where liquidity weighs so much that only a few stablecoins will remain. Or does this mean that a large market for stablecoin liquidity providers will emerge?

07. And it will become so profitable that the next Citadel will only maintain parity of stablecoins in the market. You mean that everything can develop differently. I see the same thing happening now with prediction markets. Regardless of whether a prediction market has volume or liquidity, there will be traders who will come to that market to engage in arbitrage or trade on it.

08. And then you create a market by definition. Yes. And if you believe that this is true, for example, with stablecoins, then there is one level on which they should be built, and that is Ethereum. But then how is Ethereum going to benefit from this? Oh, well, the economic model here is not correct, in the sense that why do people even attach value to anything?

09. For example, land is a good example. Um, when you buy a house, okay, you buy the land and then you build a house on it . M-hm. Okay. And the person who builds a house tries to sell it because he says, "Oh, I put all these beams, wood, cement, and marble in here," but after 20 years, the structure of the house is worth nothing.

10. In fact, the Massachusetts Institute of Technology conducted a study in the Netherlands. They studied, you know, the canals, because the addresses there have remained the same for about 700 years. M-hm. So, he could study real estate prices because he could look at all the transactions of each house for 700 years.

11. The only thing that is increasing in price is land. So when you buy a house and it goes up in price, it's not because the house has become more valuable. This is because land has become more valuable. This is interesting. is not productive. He doesn't pay you anything . He has no burning fees. In fact, you also pay taxes on it .

12. Well, if, as you said, everything happens on Ethereum, then this is the land. M-hm. So, land is the only thing that should increase in value over time. It's similar to what Hasib said about Ethereum being like a city that just pulls in all the value from everyone, like Singapore. And that's why it's valuable, because people live there .

13. These are not government taxes they collect. It's just the value of TVL that's in this city that makes it valuable. Right. And this is where, I think, anyone who buys real estate and thinks that its value is only in the tenants is mistaken, because the value of this asset is actually in the land. Yes.

14. It's interesting that you mentioned the Netherlands because the Netherlands currently has fewer problems to deal with, such as the tax on unrealized capital gains. wealth taxes. Yes, yes, yes. In any case, I look forward to these coming years. I think you mentioned that 2027 will be the year with perhaps the best returns of our lifetimes.

15. Yes. How exactly? Well, 2027, according to my predictions, is the year when corporate profits will skyrocket thanks to artificial intelligence. Yes. That's right. So everyone says, "Hey, companies aren't making money because they're spending more on AI." You know what? This, this will change. Because I know that at my company, Fundstrat, one of my companies, and I have a few, we use AI and bots a lot, and we grow without hiring people.

16. So, if your biggest expense is people, and you can grow revenue, that's margin expansion. Therefore, I think that next year, profits will grow. And of course, AI, if it's productive, is disinflationary, which means the value of money should fall, so central banks should ease policy. Mhm. And we've already dealt with the oil .

17. So you have dovish central banks and real income growth. I think this means higher multipliers and higher profits. This could be the biggest stock market rally of our lifetimes.