Fundstrat's Tom Lee says the Visas of the world could be 'long term winners' in crypto

Tom Lee, Managing Partner and Head of Research at Fundstrat Global Advisor, thinks Visa could be a "long term winner" in the digital asset world.

On last week's episode of The Scoop, Lee told The Block that players like Visa, MasterCard and Facebook will likely emerge as market leaders, but that isn't the backbone of Fundstrat's investment thesis.

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"The crypto piece of any traditional equity today is really a call option because it's not going to be the source of intrinsic value or the central thesis for any of these companies," he said.

Still, Lee said he thinks companies like Visa will become "huge winners" in a decentralized finance world supplanting many bank functions.

In terms of crypto involvement, Visa and MasterCard are members of the Libra Association. However, there have been reports of hesitancy and possible exits from both companies, along with Stripe and PayPal. Bloomberg reported executives at the companies have concerns surrounding data and privacy issues. PayPal was also among those expressing concerns before taking its leave from the association last week.

About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.