At Korea Blockchain Week 2025, Tom Lee—Fundstrat co-founder and BitMine Chairman—delivered new fuel to the digital asset markets with exceptionally bullish forecasts. In a keynote closely observed by global investors, Lee set ambitious price targets: Bitcoin could reach between $200,000 and $250,000, while Ethereum may ascend to $10,000–$12,000 before the year closes. He even floated the possibility of Ethereum hitting $15,000 in what he calls “real price discovery.”
Lee outlined Ethereum’s unique value proposition as the chain trusted by Wall Street and policymakers alike, emphasizing its capacity for scalability and neutrality. He argued that as artificial intelligence and robotics advance, a machine-driven token economy will likely leverage Ethereum’s protocols. Citing recent commentary from policymakers—including U.S. President Trump—on the need for proof-of-human systems, Lee asserted the blockchain’s growing importance for a fully digital future.
BitMine’s recent trajectory provides a tangible case study for this thesis. The company pivoted to an Ethereum-centric treasury strategy in early 2025, and the results have been seismic: market cap skyrocketed from $37.6 million in June to nearly $9.5 billion by September. Holding an unparalleled 2.41 million ETH (over $10 billion in value), BitMine has secured its position as the largest Ethereum treasury globally and the second-largest crypto treasury overall.
Lee views such developments as positioning both BitMine and peer firm Strategy as future large-cap crypto stocks. He forecasts that their scale and liquidity could pave the way for inclusion in major equity indices, unlocking passive flows from global investment funds and entrenching blockchain assets in the heart of institutional portfolios.
Not everyone, however, shares Lee’s enthusiasm. Andrew Kang, co-founder of Mechanism Capital, challenged Lee’s thesis—highlighting that the rise of stablecoins and tokenized real-world assets hasn’t corresponded to materially increased activity on the Ethereum network. Kang suggests DeFi growth is shifting toward lower-fee blockchains such as Solana and Arbitrum, and that institutional demand for ETH remains tepid.
Despite these divergent opinions, Lee’s high-conviction outlook resonates across both fintech and crypto sectors. His public stance, backed by BitMine’s active treasury management, continues to shape discourse and investment narratives as the industry eyes transformative growth in Q4.
Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Investors should always conduct their own thorough research and consult with a qualified financial advisor before making any investment decisions in cryptocurrencies, which are highly volatile and speculative assets.
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