Tom Lee, chairman of Bitmine Immersion Technologies and head of research at Fundstrat, predicted at the Proof of Talk conference in Paris that ether (ETH) could reach $250,000, driven by the growth of DeFi and AI. He argued that current prices represent "future optionality at a discount." Lee highlighted that the machine-to-machine economy will require instant payments via blockchain, positioning Ethereum as the primary currency for computing power. He noted that corporate validators like Bitmine now control 7% of Ethereum's supply, replacing the Ethereum Foundation. Bitmine, holding 5.4 million ETH, recently purchased 111,942 ETH worth $237 million. Lee also announced Bitmine's eligibility for the Russell 1000 index, which could attract significant institutional investment. He stated that spot ETH returned 22% over six months, while Bitmine's staking architecture returned 500%. Lee concluded that bearish sentiment is misplaced, calling it "selling at the bottom."

Key facts

• Tom Lee predicts ETH could reach $250,000 driven by DeFi and AI growth.
• Bitmine holds 5.4M ETH, about 4.47% of circulating supply.
• Corporate validators now control 7% of Ethereum's total supply.
• Bitmine eligible for Russell 1000 index, potentially attracting $4T in managed funds.
• Lee says bearish sentiment is 'selling at the bottom.'

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