Tom Lee: 'Iran War Won’t Stop Ethereum Rally in March'

A view has emerged that Ethereum (ETH) still has room to rebound this month despite escalating tensions in the Middle East surrounding Iran.

According to DL News, a crypto-focused outlet, Tom Lee—chairman of Bitmine, the world’s largest Ethereum treasury company, and a Wall Street strategist—said in a recent CNBC interview on the 3rd that “Ethereum’s price is showing signs of forming a bottom,” and he expects a rebound in March.

Lee pointed to Wall Street’s recent push into tokenization. “Nearly every major tokenized-fund announcement is being built on Ethereum,” he said, adding that “when activity concentrates on a network, the price ultimately follows.”

Tokenization is the process of converting ownership of traditional assets—such as real estate, stocks, and bonds—into blockchain-based tokens. BlackRock CEO Larry Fink has also stressed that tokenization could improve financial efficiency.

Previously, Lee said Ethereum could reach $250,000, though he did not provide a specific timeline.

Ethereum has fallen more than 50% since a large-scale liquidation event last October, but it has risen about 9% over the past seven days and is trading around the $2,000 level.

Lee said the underlying fundamentals of the U.S. economy have not changed despite the risk of a broader Middle East conflict. “Historically, markets have pulled back when the possibility of war rises, but often rebound once actual hostilities begin,” he explained.

He also raised the possibility that, if oil prices surge, the U.S. central bank—the Federal Reserve (Fed)—could shift to a more accommodative stance. An expansion in money supply, he noted, could be supportive for risk assets such as cryptocurrencies and tech stocks.