
Jakarta, Pintu News – Tom Lee, co-founder of Fundstrat and Chairman of BitMine, reiterated his bullish projections for the two largest cryptocurrencies: Bitcoin and Ethereum . During the Korea Blockchain Week 2025 event, Lee predicted that the price of Bitcoin could climb to $200,000 – $250,000 before the end of this year.
Meanwhile, for Ethereum, he projects the price to be in the range of $10,000 – $12,000, potentially even breaking $15,000 when the market enters a phase he calls “true price discovery.”
According to Lee, both assets are on the verge of a new growth phase. Specifically for Ethereum, he thinks the asset will enter a “super cycle” that could last for the next 10 to 15 years.
Tom Lee highlighted historical patterns showing that Bitcoin often records positive performance in the fourth quarter.
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He also added that the Federal Reserve’s change in stance – fromhawkish todovish– created favorable conditions for risky assets such as crypto.
For Ethereum, Lee thinks its appeal lies in its neutral nature and scalability for future applications. He calls Ethereum the blockchain most trusted by both Wall Street and policymakers in Washington.
Furthermore, Lee attributes Ethereum’s important role to the development of artificial intelligence and robotics. He predicts that the token-based economy for machines of the future will most likely be built on the Ethereum network.
He also touched on President Trump’s recent statement about the need for a proof-of-human system. According to him, this development will only further strengthen Ethereum’s position.
Tom Lee’s optimism is also reflected in BitMine’s business model. Earlier this year, the company changed its focus to become an Ethereum-centric treasury firm. Since that transformation, its market capitalization has jumped dramatically, from $37.6 million in June to nearly $9.5 billion in September.
Currently, BitMine Immersion Technologies holds 2.41 million ETH worth over $10 billion, making it the largest Ethereum treasury holder in the world. Overall, this positions BitMine as the second largest crypto treasury after Strategy.
According to Lee, both companies have essentially developed intolarge-cap crypto stocks. Their size and liquidity could potentially pave the way for entry into major stock indices, which in turn could bring in consistent passive investment flows and sustain their valuations.
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Although Lee is bullish, not all industry players agree. Andrew Kang, co-founder of Mechanism Capital, in a post on X, sharply criticized Lee’s thesis on Ethereum.
Kang argues that the adoption of stablecoins andreal-world assets has not driven up transaction fees on the Ethereum network. He also emphasizes that most of the new activity in decentralized finance is moving to Solana and Arbitrum, which offer faster and cheaper transactions.
In addition, Kang rejected the analogy of Ethereum as “digital oil,” arguing that the comparison overstates the role of ETH.
According to him, institutional investors are not flocking to Ethereum, and technical signals indicate that ETH prices are likely to remain within a certain range, instead of entering a super cycle.
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