Bitmine chairman Tom Lee said the price of Ethereum ($ETH) could significantly exceed $10,000 within the next 12 months. However, Lee was more cautious about the year-end timeline.
In an interview during Korea Blockchain Week, Lee assessed Ethereum's prospects, saying he is not sure whether $ETH will reach $10,000 by the end of the year. Still, Lee expressed confidence that Ethereum's price could significantly exceed $10,000 within the next 12 months.
Lee's comments came after BitMEX co-founder Arthur Hayes set a year-end target for Ethereum, predicting that $ETH could reach $10,000 by the end of the year.
Assessing Hayes's forecast, Lee called the $10,000 target "conservative." However, Lee did not name a specific price level Ethereum might reach over the next 12 months.
The Bitmine chief also clarified his earlier statements about a potential 25-fold increase in the value of $ETH. Lee stressed that the 25-fold scenario is not a direct price forecast for Ethereum.
According to Lee, the ratio under discussion was a hypothetical scenario used to explain the potential gains that a possible rise in Ethereum's price could bring to Bitmine shareholders. He therefore said the 25-fold figure should not be interpreted as a specific target price for $ETH.
Lee's recent remarks indicate that he remains optimistic about Ethereum, but also show that he has not made a definitive forecast regarding the $10,000 level by year-end.
*This is not investment advice.