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ETH TLDR: Why Tom Lee is optimistic about Ethereum reaching US$250,000
BitMine Chairman Tom Lee believes that Ethereum's Phase 2.0 is similar to the past revaluation process of Amazon and Nvidia shares. His "AI-driven strange valley of wealth" theory positions Ethereum as a necessary layer of trust. BitMine holds 5.74 million ETH units, accounting for 4.8% of the circulating supply, and plans to control its position below 5%. Technical analysts expect Ethereum to hit a level of $2200 to $2239 per piece in the short term. In the long run, the price of Ethereum could reach US$250,000 per piece.
Why Tom Lee believes Ethereum can reach US$250,000
Lee's pricing target stems from Ethereum's potential role as a global settlement currency. He believes ETH can function just as JPMorgan Chase was re-evaluated as a financial platform. This "2.0" framework means that Ethereum is no longer just a simple cryptographic asset, but becomes the core infrastructure of AI-driven economies.
The core of Lee's argument is what he calls the "strange valley of wealth." He explained that autonomous AI systems could quickly generate revenue beyond human capabilities. From this perspective, blockchain becomes the necessary layer of trust to distinguish human economic activities from autonomous AI-driven transactions.
Lee wrote that Ethereum is increasingly becoming "currency" through its use in transaction fees. For example, Robinhood Chain now uses ETH as its native Gas token. This practicality drives demand for ETH rather than mere price speculation. The growing developer activity on Ethereum further strengthens its argument as a clearing layer.
Lee linked his long-term valuation to BitMine's own stock performance. The company's share price is highly correlated with the market price of Ethereum. He said that if Ethereum realizes its full potential as a "productive currency", both assets will benefit significantly. This correlation is one of the key pillars underpinning his $250,000 forecast.
BitMine's support for Ethereum's long-standing arguments
BitMine has built the largest enterprise-grade Ethereum reserve to support this prospect. The company currently holds 5.74 million ETH units, accounting for 4.8% of the circulating supply. BitMine intends to keep its position below 5%, reflecting its long-term accumulation strategy rather than short-term trading.
BitMine's first year of work includes launching the MAVAN Verifier Network and leading investment rounds in Ethereum Foundation derivative projects ETH Labs and Ethereum Institutional. These initiatives place BitMine in a key position in the institutionalization of Ethereum. Lee believes this participation is necessary to achieve his $250,000 goal.
Recent technical signals also provide support for broader long-term views. Analysts at DeMark Analytics and Steve Suttmeier predict that Ethereum will soon reach $2200 to $2239. They compared the current market with the trend pattern of the S & P 500 in 1987. Lee sees this short-term move as the first step towards his larger argument.
Recent corporate milestones have reinforced BitMine's role in this narrative. The company completed a preferred stock issuance, upgraded to listing on the New York Stock Exchange, and was successfully included in the Russell 1000 Index this year. Lee wrote in a speech in July: "Ethereum is a cure for the weird valley of wealth" and called on investors to be patient.
