Ethereum Could Hit $15K, Says Bitmine’s Tom Lee, Citing Growing Wall Street Adoption

Tom Lee: Stablecoins Are Ethereum’s “ChatGPT Moment” as Wall Street Embraces ETH

Ethereum’s native asset, ETH, may be poised for a breakout as institutional players increasingly recognize the network’s growing role in global finance, according to Tom Lee, co-founder of Fundstrat and chairman of Bitmine Immersion Technologies.

In an interview with CoinDeskTV, Lee likened the rise of stablecoins to the transformative impact of ChatGPT on artificial intelligence adoption. “Stablecoins have created the ‘ChatGPT moment’ for crypto,” he said. “They’ve become a simple, viral solution for payments that resonate with banks, merchants, and consumers alike.”

With over 50% of the nearly $250 billion stablecoin market hosted on Ethereum and growing adoption in asset tokenization, Lee believes Ethereum is emerging as the leading blockchain for institutions looking to engage with real-world assets.

“Wall Street is searching for a compliant U.S.-based chain with scale and existing adoption,” Lee noted. “Ethereum fits that profile and is rapidly becoming highly relevant.”

While Bitcoin remains the go-to store of value, Lee argued that Ethereum offers greater upside over the next several years due to its role in the financialization of blockchain assets. Fundstrat has set a short-term technical target of $4,000 for ETH, with a fair value range of $10,000 to $15,000 by year-end.

“We believe Ethereum is dramatically undervalued,” Lee said. “Acquiring an asset that could appreciate tenfold makes strong strategic sense for a treasury.”

Bitmine, formerly a Bitcoin mining company (ticker: BMNR), has pivoted to an Ethereum-centric treasury model under Lee’s leadership. The firm revealed last week that it holds exposure to over 300,000 ETH—worth more than $1 billion—including direct holdings and options.