Bitmine Chairman Tom Lee said that the price of Ethereum (ETH) could significantly surpass the $10,000 level in the next 12 months. However, Lee took a more cautious approach regarding the timing for the end of the year.
In an interview given as part of Korea Blockchain Week, Lee assessed the outlook for Ethereum, stating that he was not sure whether ETH would reach $10,000 by the end of the year. However, Lee expressed his belief that the price of Ethereum could rise well above $10,000 within the next 12 months.
Lee’s comments came after BitMEX co-founder Arthur Hayes set a year-end target for Ethereum, predicting that the ETH price could reach $10,000 by the end of the year.
Lee, evaluating Hayes’ prediction, described the $10,000 target as “conservative.” However, Lee did not share a specific price level that Ethereum could reach in the next 12 months.
The Bitmine chairman also clarified his previous statements regarding a potential 25x increase in ETH’s value. Lee emphasized that the 25x increase scenario was not a direct price prediction for Ethereum.
According to Lee, the ratio in question was a hypothetical scenario used to explain the potential return that a potential increase in the Ethereum price could provide to Bitmine shareholders. Therefore, he stated that the 25x increase figure should not be interpreted as a specific ETH price target.
Lee’s recent statements indicate that he maintains a strong bullish outlook for Ethereum, but also reveal that he has not made a definitive prediction regarding the $10,000 level by the end of the year.
*This is not investment advice.
