Lee Sees $250K Ethereum Target as Developer Ecosystem Booms

Tom Lee, founder of Fundstrat Global Advisors and chairman of Bitmine (NYSE: BMNR), has expressed his strong bullish sentiment on Ethereum, calling its recent pullback a 'bloodbath buying opportunity'. He believes multiple catalysts could drive the price to $250,000 over the long term.

Lee was initially less bullish on Ethereum but began recommending it in late 2024. Bitmine holds 5.54 million Ether tokens, or 4.6% of its circulating supply, making it the world's largest corporate holder of Ethereum. The price of Ether has actually declined about 50% since the last day of 2024.

Lee expects Ether to soar to $22,000 within the next few years and $62,000-$250,000 over the long term. This would represent a 14,870% gain from its current price. He attributes this potential growth to Ethereum's transition to proof-of-stake (PoS) consensus mechanism, which has made it more energy-efficient.

Ethereum's developer ecosystem is also growing rapidly, with nearly 32,000 active developers as of late 2025. Lee believes that as autonomous AI genetics take over more economic transactions, they'll need public, neutral, and secure blockchains - like Ethereum - to handle identity authentication, validation, and instant machine-to-machine payments.