# Tom Lee Says Tokenization May Drive Current Crypto Bull Market By Sonny Jang Canonical URL: https://www.tokenpost.com/news/people/28248 Published: 2026-10-08T15:37:15.000Z Updated: 2026-10-08T15:37:15.000Z Section: People > Lee estimates that putting 10% of roughly $160 trillion in stocks, bonds and credit on-chain could create a $16 trillion market. Bitmine Chairman Tom Lee said asset tokenization may be the core driver of the current crypto bull market, with on-chain financial assets creating a market far larger than earlier retail-led cycles. Lee described the 2016-17 bull market as mainly driven by retail participation. He said non-fungible tokens shaped much of the 2019-21 cycle, also with strong retail involvement, while stablecoins developed rapidly last year. The current cycle is focused more on real-world assets and traditional financial assets moving on-chain, Lee said. Lee estimated that global liquid assets total about $200 trillion. Stocks, bonds and credit account for approximately $160 trillion of that amount. If 10% moved onto blockchains, the resulting market would be about $16 trillion. He also said each dollar of assets tokenized or locked within a layer-1 blockchain ecosystem typically creates about $1 in value for that blockchain. Lee has previously pointed to [tokenization and artificial intelligence agents]() as potential drivers of the next crypto cycle. His earlier discussion connected the trend with the development of digital financial infrastructure. ## Links in this article - [tokenization and artificial intelligence agents](https://www.tokenpost.com/news/technology/24611)