Summary
- Tom Lee said Ethereum (ETH) still has significant room to rise as he reiterated a long-term price target of $250,000.
- Tom Lee said many investors still underestimate the role of virtual assets (cryptocurrencies) in an artificial intelligence (AI)-based economy.
- He added that Ethereum could serve as the payment layer of the future financial system, and that crypto infrastructure would become a key element supporting digital assets and AI-based commerce.
Forecast Trend Report by Period
BitMine Chairman Tom Lee reiterated a long-term price target of $250,000 for Ethereum, saying the cryptocurrency still has substantial room to rise.
Lee told a YouTube program that Ethereum could eventually climb to $250,000, Yahoo Finance reported on July 17. While he said he is not necessarily holding to that exact target, he added that Ethereum still has significant upside.
He also cited the late Charlie Munger, Berkshire Hathaway’s former vice chairman, saying that “the big money is not in the buying and selling, but in the waiting.”
Lee added that many investors still underestimate the role of virtual assets, or cryptocurrencies, in an artificial intelligence-based economy. Ethereum could serve as the payment layer for the future financial system, while crypto infrastructure may become a core component supporting digital assets and AI-based commerce.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.