Tom Lee: ETH long-term target price looks to US$250,000 and is entering the ETH2.0 stage

On July 13, BitMine director Tom Lee delivered a speech at WebX2026. He reiterated the view that "ETH is currency" and compared the "1.0 to 2.0" valuation transition of Amazon, Nvidia, and JPMorgan Chase, believing that Ethereum is entering the ETH2.0 stage, with a long-term target price of US$250,000. Relevant driving factors include the new foundation era, Agent-AI, financial settlement layer and ETH as currency. It believes that the current market sentiment has bottomed out and Ethereum is the antidote to the "terror valley of wealth". Tom Lee revealed that BitMine has acted as a lead investor in supporting two spin-off institutions of the Ethereum Foundation: EthLabs, founded by former Ethereum Foundation contributors, and Ethereum Institutional, an independent non-profit organization, which respectively focus on accelerating Ethereum's "institutional supercycle" and promoting the large-scale launch of institutional finance. TomLee said that BitMine currently holds 5.74 million ETH units (accounting for 4.8% of ETH supply). Future goals include: slowing down the pace, gradually increasing its holdings to 5% of ETH supply, continuing to fund the Ethereum Foundation spin-off projects and "public goods", and investing in financial services and crypto unicorns to strengthen the Ethereum ecosystem.