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Tom Lee provides three target prices for Ethereum: $22k as the starting point, with a maximum of $250k
BlockBeats News, May 8 — At the Consensus Miami 2026 conference, Tom Lee, Chairman of Ethereum’s first treasury BitMine, said that BitMine is currently buying about 100,000 ETH per week. At this pace, BitMine will reach its goal of holding 5% of the Ethereum supply in about the next 6 weeks, but it is currently evaluating whether it should slow down its buying pace and instead allocate capital to a $4 billion buyback plan. BitMine’s annualized earnings from staking Ethereum exceed $300 million, the company’s overall daily cash flow exceeds $1.2 million, and it still holds about $700 million in cash reserves.
When discussing the market outlook, Tom Lee said that if Bitcoin’s closing price at the end of May is higher than $76,000, it will rise for three more months, and the bear market will be officially declared over.
When discussing Ethereum’s target price, Tom Lee said:
If Bitcoin rises to $250,000 and the ETH/BTC exchange rate returns to the 2021 high point, Ethereum would correspond to about $22,000;
If the ETH/BTC exchange rate reaches 0.25—an extremely optimistic level—it corresponds to about $62,000;
If tokenization sees a large-scale boom and Ethereum becomes the main settlement layer, it corresponds to $250,000.