James Wo, founder and CEO of crypto investment firm DFG, dismissed Tom Lee's prediction that ether would reach $250,000, arguing that bitcoin remains the dominant institutional asset. Speaking at the Proof of Talk conference in Paris, Wo noted that Ethereum lacks the consensus and institutional recognition that bitcoin enjoys. He pointed out that ether's value accrual is weakened by Layer-2 networks diverting transaction volume and fee capture. Wo, who turned a $20 million family stake into a $1 billion fund, expects bitcoin to reach new all-time highs by 2027 or 2028, with a potential correction before then. He also highlighted bitcoin's liquidity as superior to traditional assets like Chinese and U.S. stocks. However, Wo's view contrasts with Vitalik Buterin's suggestion that Ethereum's base layer may eventually capture more economic activity as upgrades progress.

Key facts

• James Wo rejects Tom Lee's $250K ether prediction, calling it unrealistic.
• DFG CEO says bitcoin has stronger consensus and institutional recognition than ether.
• Ether's value accrual is structurally weakened by Layer-2 networks capturing fees.
• Wo expects bitcoin to reach new all-time highs by 2027 or 2028.
• DFG grew from a $20M family stake to a $1B crypto empire.

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