Key Takeaways
- BitMine CEO Tom Lee believes crypto will house the upcoming generation of AI robots filling labor shortages.
- As automation replaces human labor, Lee predicts governments will introduce “robot taxes” via micropayments on robotic activities.
- Lee dismissed claims that AI stocks are overvalued, arguing that Nvidia’s valuation remains modest compared to past tech bubbles.
BitMine Chief Executive Tom Lee said the world is heading toward an era where AI and robots will fill a growing shortage of human labor, and that crypto systems could become the backbone of how the economy operates.
Robots To Fill Labor Gaps
Lee, speaking in an interview with Anthony Pompliano, said global labor markets have faced a developing shortage of prime-age workers since 2018.
“AI and robotics are coming at a time when we need to supply missing labor,” he said, adding that such technologies will “unlock a huge amount” of productivity when paired with blockchain verification systems.
Drawing parallels with his experience as a former wireless industry analyst, Lee said the current wave of AI investment reminds him of the early days of mobile technology, when multiple sectors boomed and crashed together.
Lee said that nascent technology used to move in the same cycle but believes that experimentation is healthy.
The BitMine CEO said the combination of AI, robotics, and blockchain could unleash major new economic potential.
“I think there’s a huge amount that gets unlocked with agentic robots coupled with super intelligence, and it is powered or verified on the blockchain,” he said.
Adding: “AI and robots are really increasing the use case for crypto.”
The use of crypto systems, Lee noted, would allow machine-to-machine transactions, instant micropayments, and immutable records.
Robot Tax
Lee warned that as automation replaces human labor, governments will need new ways to fund themselves.
“People don’t have wage income, and $2.8 trillion of U.S. government revenues come from people paying taxes,” he said.
Adding: “We’ll have to start taxing robotic activities.”
He predicted a system of “micropayments” similar to value-added taxes (VAT), in which robots are charged small levies for each productive task, such as moving a box or completing a transaction.
Lee estimated that taxing robot-driven activity in a $30 trillion economy could generate around $1 trillion in government revenue.
He argued that blockchain rails are uniquely suited for such systems because they can handle high-frequency transactions with precision.
“Crypto is better because Tether is 12 digits, whereas the dollar only goes to cents,” he said.
“We might be taxing everything at 0.001 cents per action, but that’s enough to replace hundreds of billions in lost income tax,” he added.
AI Bubble Dismissal
Lee rejected claims that AI stocks are caught in a speculative bubble, arguing that valuations remain grounded compared to past technology booms.
“I mean if we’re measuring bubbles based on like risk reward, we’re pretty far from it,” Lee said.
“In 1998, September, which is similar to today because the Fed was on pause and then they started cutting again — Cisco, which was the biggest company at the time, was trading at 56 times forward PE. Eighteen months later, it got to 210 times,” he explained.
Then, Lee said, Cisco made a commodity router that had “many competitors.”
“Nvidia today is the singular most scarce company in AI,” he said. “They make a chip that everyone who is building a premier model needs.”
Lee said Nvidia’s valuation remains modest compared with major consumer companies, noting that at 27 times forward earnings, the AI chipmaker trades at a lower multiple than Costco or Walmart.
“… So Nvidia is still cheaper than a membership club company. So I’d say that’s why we’re pretty far from a bubble,” he said.
Lee added that while critics see excessive enthusiasm in AI, the fundamentals show growing corporate adoption.
“In the AI world, companies, enterprises that are spending, are starting to see payoff on the AI spend, which means spending is picking up. I actually think AI spending is accelerating,” he said.
He argued that investors’ caution itself was evidence that markets had not overheated. “It always is funny to me how people are yelling bubble,” Lee said.
Adding: “But the more people who yell bubble seems like the less likely we’re in one.”
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
