Key Takeaways

• Fundstrat’s Tom Lee said Ethereum could eventually reach $250,000.

• Lee believes investors are becoming bearish at the wrong time.

• Regulation and institutional adoption remain key bullish catalysts.

Fundstrat’s Tom Lee told a crypto conference in Paris this week that investors bearish on Bitcoin and Ethereum were “selling at the bottom,” doubling down on a bullish outlook that it could eventually reach $250,000.

Lee’s remarks at the Proof of Talk conference on June 2 came as Bitmine purchased another 25,000 ETH worth roughly $48 million, signaling the firm’s conviction even as the price continues to drop.

Ethereum Price To $250,000?

Speaking in Paris, Lee delivered his most ambitious projection yet, stating the Ethereum price could rise to $250,000 through a series of infrastructure shifts.

“If a thesis is correct and Ethereum is going to break out of this consolidation, and the consolidation breakout is tokenization and AI, you know, I think that that’s probably 50X or so—significant upside for Ethereum,” he said.

“If Etherrealize is correct, and Ethereum goes to $250,000, that values Bitmine stock at $5,000. It’s a bargain at $18,” he added.

He noted that a “reasonable” base scenario would be Ethereum’s price reaching $22,000.

Lee again reiterated how Ethereum stood to benefit disproportionately from tokenization and AI-driven infrastructure.

The Bitmine Chairman argued that as much as $300 trillion of assets could eventually be tokenized, including real estate, bonds, equities, and commodities.

“If a market is going to go to $300 trillion of asset value, Ethereum isn’t going to stay at $100 billion and $200 billion of total network value,” he said.

‘Bearish At The Bottom’

Elsewhere in the presentation, Lee again claimed that crypto markets are already in a “crypto spring,” despite major price drops in Ethereum and Bitcoin.

“I think we are already in crypto spring, and a lot of you may have lost your faith in crypto because prices haven’t gone up,” Lee said.

He claimed there had been a lot of “rage quitting in crypto” after many investors believed they were better off going for AI stocks.

“I think this is all of what you should expect at the bottom of a cycle,” he said.

Adding: “If you’re bearish today, you are bearish at the bottom for Bitcoin and Ethereum.”

Regulatory Tailwinds

Lee also pointed to pending US crypto legislation as a major catalyst for growth.

“The Clarity Act is a huge deal,” he said.

“Basically it provides a legitimate framework for crypto to proliferate in the US, but also financial institutions to build.”