Tom Lee Predicts $30,000 Per Ethereum As Treasury Frenzy Begins
Tom Lee proposed that if companies treat Ethereum (ETH) like MicroStrategy treats Bitcoin, ETH could reach approximately $30,000. He highlighted that MicroStrategy's stock price surged significantly due to treasury strategies rather than solely Bitcoin's price increase. Lee outlined three strategies for ETH accumulation: issuing new stock above net-asset value to acquire more tokens, leveraging token volatility to reduce borrowing costs, and using convertibles or preferred shares to limit dilution. BitMine Immersion Technologies, which he chairs, has already acquired $1 billion in ETH, aiming for 5% of the total supply. SharpLink Gaming and Bit Digital are also accumulating ETH, with combined holdings of about 682,000 ETH. Lee emphasized that this accumulation strategy could accelerate ETH's price growth, potentially mirroring Bitcoin's past performance. Ether is currently priced around $3,600, with a potential eight-fold increase suggested.
