BitMine's Tom Lee Sets $250,000 Long-Term Target for Ethereum, Holds 5.74M ETH

According to Foresight News at WebX 2026, Tom Lee, chairman of BitMine, set a long-term price target of $250,000 for Ethereum and stated that ETH is entering a "2.0 stage" driven by factors including a new foundation era, Agentic-AI, financial settlement layers, and Ethereum as a monetary asset.

BitMine currently holds 5.74 million ETH, representing 4.8% of total ETH supply. Lee disclosed plans to gradually increase holdings to 5% and continue supporting Ethereum Foundation spinoffs including EthLabs and Ethereum Institutional, which focus on institutional adoption and large-scale financial infrastructure on-chain.