ETH Price to Soar to $60K? Tom Lee’s Bitmine Sounds Off

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Just a few months ago, Ethereum was in the doldrums with prices at bear market bottoms; now analysts and experts are predicting monumental price targets. 

Ether prices have skyrocketed 150% since their April lows below $1,500 to come just shy of $4,000 this week.

The massive move has been driven by institutional exchange-traded products and a new wave of treasury companies scooping up the asset, and one of those firms thinks ETH is extremely undervalued.

Tom Lee’s ETH treasury firm Bitmine Immersion Technologies has posted its first presentation titled “The Alchemy of 5%” on Monday, and in it are some wild predictions.

ETH Valuation at $60K
“Many on Wall Street say Ethereum is the ‘biggest macro trade over the next decade’,” the firm stated.

It cited Lee’s comment that stablecoins were a “ChatGPT moment” for crypto, US Treasury Secretary Scott Bessent’s prediction that stablecoin market capitalization will see a tenfold increase, 60% of them are on Ethereum, and Wall Street is tokenizing assets onto Ethereum.

Bitmine stated that it asked several research firms to assign a “replacement” value to Wall Street for ETH, and they reported an implied value of $60,000 per unit.

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