Woofun AI reports that Fundstrat's Tom Lee appeared on CNBC's Closing Bell to assert that the 2026 cryptocurrency landscape will mirror the trajectory of memory stocks in 2024. Lee identifies crypto as a foundational layer for artificial intelligence that remains undervalued by the market until a sudden paradigm shift occurs. He draws a direct parallel to how memory chip manufacturers like SK Hynix and Micron remained stagnant throughout 2024 and 2025 despite their critical role in AI development before experiencing a parabolic rise in 2026.

Lee posits that cryptocurrency currently functions as the overlooked infrastructure supporting the AI revolution, predicting that within 12 months, the market will recognize crypto as a downstream story of AI. He points to concrete deployments such as weekend oil trading executed on crypto rails and BlackRock tokenizing assets as proof that the global financial system is being reconstructed on blockchain infrastructure. These specific examples demonstrate that the technology is already operational even if market pricing has not yet adjusted.

While acknowledging that 2026 has served as a setback year for the sector, Lee emphasizes that fundamental progress continues unabated beneath the surface price action.

The deeper driver of current market behavior is that FOMO flows into AI equities because they offer lower friction compared to the process of setting up crypto wallets. Lee argues this preference is a generational issue; as users adopt crypto-native habits, capital flows will inevitably rotate from traditional equities to digital assets.

The analogy suggests that tokenization and composability are actively moving through the pipeline now, even though the market has yet to price these developments in. This structural lag between technological adoption and market valuation mirrors the historical delay seen in the semiconductor sector. The current period represents a critical accumulation phase where infrastructure is being built while investor sentiment remains focused on more accessible entry points.