Tom Lee provides Ethereum Three-tier Price Target: Starting at $22,000, with a high of $250,000

BlockBeats News, May 8th, at the Consensus Miami 2026 conference, Tom Lee, Chairman of the first Ethereum treasury BitMine, stated that BitMine is currently buying about 100,000 ETH per week. At this rate, BitMine will reach its goal of holding 5% of the Ethereum supply in approximately the next 6 weeks. However, the company is currently evaluating whether to slow down its buying pace and instead use the capital for a $4 billion buyback plan. BitMine generates over $300 million in annualized income from staking Ethereum, with the company's overall daily cash flow exceeding $1.2 million. Additionally, it still holds about $700 million in cash reserves.

Tom Lee discussed market outlook, stating that if Bitcoin's closing price at the end of May is above $76,000, it will mark a three-month consecutive increase, signaling the formal end of the bear market.

Tom Lee mentioned the target prices for Ethereum:

If Bitcoin rises to $250,000 and the ETH/BTC exchange rate returns to the 2021 high, Ethereum would reach around $22,000;

If the ETH/BTC exchange rate reaches the extremely optimistic level of 0.25, Ethereum would reach around $62,000;

If there is a large-scale tokenization breakout and Ethereum becomes a major settlement layer, Ethereum would reach $250,000.