Tom Lee Predicts Ethereum to Reach $60,000 in 5 Years, with Over 2x Upside Potential by Year-End

On August 28th, Tom Lee, the chairman of BitMine, stated in an exclusive interview with Mario Nawfal that "the financial system will be reconstructed based on blockchain, similar to the moment when the US dollar departed from the gold standard in 1971. Ethereum will be one of the major beneficiaries. I still have a very bullish attitude towards Bitcoin and believe it could reach $200,000 or even higher. Regarding Ethereum, I think it has greater upside potential. With the development of blockchain and artificial intelligence, it has more potential. Therefore, we regard Ethereum as the largest macro opportunity in the next 10 to 15 years. I think from now until the end of the year, Bitcoin has the potential for a 2x increase, while Ethereum has more than a 2x increase. However, in the long term, we have conducted some research and envisioned a five-year experiment, and the result predicts that Ethereum's ultimate price will be around $60,000. Therefore, Ethereum has tremendous upside potential in the next 5 years." In mid-2017, Tom Lee publicly predicted for the first time that Bitcoin would reach $25,000 within five years (by 2022). In an interview with CNBC, he said that Bitcoin is "eroding the demand for gold" and regards it as "digital gold" with scarcity and the potential for value storage. At that time, the traditional financial world and some media outlets ridiculed his prediction.