Bitmine's Tom Lee Sees $6,000 Ethereum By Year-End If Bitcoin Hits $150,000

• Tom Lee said the Ethereum-to-Bitcoin ratio could get to 0.04 by year-end, taking Ether to about $6,000 with Bitcoin at $150,000.

• He described that target as "very conservative," saying that the ratio should be above its 2021 high of nearly 0.08.

• The CLARITY Act remains the biggest near-term catalyst, Lee said, but if it doesn't pass in September, Ethereum will "do fine either way."

Ethereum (ETH) could trade near $6,000 by the end of 2026, with the prediction tied to a recovery in the asset's exchange rate against Bitcoin (BTC), said Tom Lee, co-founder of Fundstrat and chairman of Bitmine Immersion Technologies (BMNR).

The Ethereum-to-Bitcoin ratio was hovering around 0.03 and could reach 0.04 by the end of the year, Lee said on the Milk Road Show on Friday. At that level, Ether would be worth about $6,000 with Bitcoin at $150,000, he said. Lee said the projection was "very conservative," noting that the ratio soared to nearly 0.08 in the 2021 cycle.

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This cycle is being driven by tokenization and agentic AI, rather than the meme coins and NFTs that drove 2021, he said, so the ratio should be higher than that previous high. "Maybe it even goes to 0.25. Maybe it even goes to one," he said.