Tom Lee remains bullish on Bitcoin as crypto enters a crucial month for the CLARITY Act.
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Tom Lee said Bitcoin’s latest rally may be the “first leg up” and maintained that $150,000 remains possible.
Sen. Kevin Cramer sees a “good chance” of passing the CLARITY Act before the Nov. 3 midterm elections if the Senate clears a key procedural vote on Sept. 15.
Lee has also argued that the legislation could accelerate Wall Street’s move into crypto.
Fundstrat’s Tom Lee has described Bitcoin’s recent rally as the opening phase of a larger move, claiming that the crypto could still reach $150,000.
His forecast comes as US lawmakers prepare for a crucial vote on the CLARITY Act, which Lee believes could give Bitcoin and Ethereum a major boost during the fourth quarter.
It comes as Senator Kevin Cramer said there was a “good chance” the Senate could pass the legislation before the Nov. 3 midterm elections, provided lawmakers first agree to take up the measure on Sept. 15.
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Speaking on CNBC’s Squawk Box, Lee said the latest crypto rally had surprised investors who were positioned for further weakness.
“I think this is the beginning. I think it’s the first leg up,” Lee said.
Lee pointed to increased trading in crypto-linked stocks as evidence that institutional investors were positioning for a strong fourth quarter.
He also expects institutional allocations to rise through September and the final three months of the year, after crypto became what he described as the best-performing macro asset of the third quarter so far.
Other potential drivers include the end of crypto market’s four-year cycle and the return of South Korean investors who rotated into artificial intelligence stocks earlier in 2026.
The Fundstrat co-founder said relatively few investors currently hold crypto following repeated rounds of deleveraging, leaving room for Bitcoin to return to six figures.
When asked whether he was sticking with his previous Bitcoin forecast, Lee replied:
“I think $150,000 is still possible.”
Lee’s outlook also rests partly on monetary policy.
His base case is that the Federal Reserve leaves interest rates unchanged at its Sept. 15 meeting, an outcome he believes could trigger a broader market rally.
However, he acknowledged that an interest-rate increase would test the crypto market.
Lee said the impact would depend partly on whether longer-term Treasury yields rose or fell in response.
Cramer Sees Path to CLARITY Act Passage Before Midterms
Lee’s regulatory catalyst may face its decisive test within weeks.
Speaking on Fox Business, Cramer noted the importance of the Senate’s CLARITY Act on Sept. 15, one day after lawmakers return to Washington.
“If we do that, I think there’s a good chance that we can pass CLARITY before the elections,” Cramer said.
The 2026 midterm elections will take place on Nov. 3, leaving the Senate with a narrow window in which to complete work on the bill.
Cramer said the legislation had attracted bipartisan support but acknowledged that the Senate’s 60-vote threshold makes progress more difficult.
Republicans will therefore need support from Democrats to advance it.
The North Dakota senator accused some Democrats of allowing their opposition to President Donald Trump to obstruct the bill.
However, he also warned that control of both chambers is at stake in November, which could make lawmakers reluctant to take politically risky votes before the election.
Cramer suggested the lame-duck period after the midterms could be more productive for several other measures.
Lee Says CLARITY Act Could ‘Supercharge’ Ethereum
Lee’s CNBC remarks extended a regulatory bull case he had laid out days earlier.
During an appearance on the Milk Road podcast, Lee said passing the CLARITY Act could “supercharge” the movement of established financial institutions into crypto.
He argued that Ethereum would continue to develop without legislation, but that clearer rules could “supercharge” Wall Street’s adoption.
Lee called that outcome “very conservative,” arguing that Ethereum remains undervalued compared to its potential role in tokenization and AI-driven commerce.
Even so, he cautioned that legislation would not immediately move the entire financial system on-chain.
Banks and other institutions still face regulatory obligations and decades-old technology.
This means adoption is likely to remain gradual unless blockchain products deliver a clear and immediate financial advantage.
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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.
