Bitmine (BTMN) Chair Tom Lee Predicts Ethereum Will Break Past $5,000 To Set New All-Time High

Bitmine Immuable Inc. (NASDAQ: BTMN) Chairman Tom Lee is making one of his boldest calls yet, predicting that Ethereum will surpass its prior all-time high of around $5,000 before the year is out.

Lee, who also serves as head of research at Fundstrat and is a contributor at CNBC, made the prediction in a new interview with Coinage, citing the accelerating Wall Street trend of tokenizing real-world assets on the Ethereum network.

His confidence in Ethereum has grown steadily over recent months as ETH has outperformed both equities and the broader artificial intelligence trade during the summer.

“The crypto bull market… we believe it’s been already confirmed,” Lee said, pointing to ETH’s roughly 7,000-basis point lead over the S&P 500 since June.

Lee added that the strength of crypto-related stocks further supports his bullish thesis, noting that they are “by a country mile, the best performing assets so far in the third quarter.”

A key pillar of Lee’s argument centers on a catch-up trade he expects to materialize later this year, driven by investors who remain significantly under-allocated to the asset class.

He highlighted the decisions by both Robinhood and Coinbase to offer tokenized stocks on their respective Ethereum Layer-2 blockchains as a particularly bullish signal for future network activity and demand.