Tom Lee predicts ether will hit $250,000 as corporate validators take over network control
Key takeaways
- While Lee did not provide a specific timeline for the target, he did map out the infrastructure shifts driving the network toward that value.
- Ether on Tuesday was changing hands at $1,906, down 6% over the past 24 hours.
- Lee’s Bitmine firm is one of the largest corporate holders of Ethereum.
In a keynote address at the Proof of Talk conference in Paris, Tom Lee, head of Research at Fundstrat and Chairman of Bitmine Immersion Technologies (BMNR), told his audience that ether (ETH) is experiencing significant changes that will eventually drive up its price to $250,000. While Lee did not provide a specific timeline for the target, he did map out the infrastructure shifts driving the network toward that value.
Ether on Tuesday was changing hands at $1,906, down 6% over the past 24 hours.
Lee’s Bitmine firm is one of the largest corporate holders of Ethereum. Bitmine ramped up ETH purchases last week, making its most significant since December. It bought 111,942 ether (ETH) worth around $237 million at current prices. That lifted the firm's holdings to almost 5.4 million ETH, about 4.47% of ether’s circulating supply.