On-chain data from April 15, 2026, shows that Tom Lee, chairman of BitMine, told CNBC the U.S. economy is outperforming expectations amid war. Defense spending is at $3 billion per month, potentially rising to $6 billion. Oil prices have increased by $20, but household costs rose by only $1.2 billion. On-chain analysis suggests the market is pricing in a favorable outcome, with parallels to WWII. Lee called energy security a key structural theme and remains bullish on the energy sector.

According to ME News, on April 15 (UTC+8), Tom Lee, Chairman of BitMine, the Ethereum treasury company, told CNBC: “The stock market has remained resilient because, despite the war, the economy has actually performed better than expected.” He noted that current defense spending is approximately $30 billion per month and could rise to $60 billion per month in the future, providing significant economic stimulus; meanwhile, a $20 increase in oil prices adds only about $12 billion monthly in burden to households. “Taken together, the war is currently helping businesses profit.” Citing historical precedent, Lee said, “Looking back at World War II, the stock market hit its bottom in May 1942, just five months after the U.S. entered the war—when no American troops had even set foot on European or Pacific battlefields.” He believes, “The market is exceptionally good at pricing in outcomes in advance; the current rally suggests the market is pricing in a favorable outcome, even though I can’t articulate exactly why—that’s simply the signal the market is sending.” Regarding the three key variables currently shaping the market—Iran war, corporate earnings, and interest rates—Lee stated, “Of the three, only the war can generate tail events in either direction, making it the most critical variable to watch.” On sector allocation, he remains bullish on the energy sector, emphasizing that energy security is one of the most important structural themes in recent years. (Source: ChainCatcher)