Tom Lee: Predicts Ethereum's future price will reach $250,000

PANews reported on January 5th, citing DL News, that Bitmine Chairman Tom Lee recently predicted in a letter to shareholders that the price of Ethereum will surge by 8000%, reaching $250,000 per token. This surge would propel Ethereum's market capitalization to approximately $30 trillion, exceeding the combined market capitalization of Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, and Tesla. When he made this bold prediction, Ethereum was trading at slightly above $3,100, less than half of his predicted price of $7,500 by the end of 2025.

Recently, Bitmine proposed a stock split, increasing the number of authorized shares by 100. Tom Lee believes this split is necessary because "Bitmine's stock price follows Ethereum's price," and predicts that when Ethereum reaches $250,000, the company's stock price will reach $5,000 per share. He did not provide a timeline for achieving any of these goals.