The setup for this rotation has been nearly a decade in the making, according to Lee.
Is ETH going to $10K?
According to Tom Lee, ETH could easily reach $10,000 within the next one or two years.
The extremely bullish take is based on this assumption that ETH will be able to become the settlement layer of the future.
At the same time, he is confident that a proper DAT will be able to outperform the underlying asset.
Lee has argued that Ethereum remains significantly undervalued relative to Bitcoin. His thesis is based in part on Ethereum regaining the historical valuation relationship it has maintained with Bitcoin.
In June, Lee said Ethereum could eventually reach $250,000. He believes that the network could become increasingly important for decentralized finance, tokenized assets and artificial intelligence.
His role at BitMine has also given the forecast greater significance. BitMine has pursued an aggressive Ethereum treasury strategy. Lee serves as the company’s chairman. Reuters reported in July 2025 that BitMine had launched the strategy with a $250 million private placement and had accumulated more than 163,000 ETH by July 14.
Ethereum’s recent recovery
The price of Ethereum has gained more than 32% over the past 24 hours, CoinGecko data shows.
Earlier this week, Lee also opined that a significant spike in South Korean trading volumes is actually positive for the industry.
