Amid ongoing crypto market turbulence, Bitmine chairman Tom Lee has issued another bold call. In a shareholder letter, he projected that Ethereum could reach $250,000 per coin — an 8,000% gain from current levels. At that price, the entire Ethereum market cap would be approximately $30 trillion, surpassing the combined market value of Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, and Tesla.
Bitmine Plans 100x Share Increase to Prepare for Surging Stock Price
Lee also proposed raising Bitmine's authorized shares from 500 million to 50 billion to facilitate potential future stock splits. He argued that because Bitmine's stock is closely tied to Ethereum's price, a surge to $250,000 could push the share price to $5,000, making it difficult for retail investors to participate. Expanding the share count would improve liquidity and accessibility.
Defying Market Headwinds, Bitmine Keeps Accumulating ETH
Since October, the total crypto market cap has shed roughly $1 trillion, pressuring many firms with digital asset treasury strategies. Yet Bitmine has not slowed down. The company added nearly 33,000 ETH last week alone. Its total holdings now stand at 4,143,502 ETH — about 3.43% of the circulating supply, making it the largest public corporate ETH holder worldwide.
Lee did not specify a timeline for the $250,000 target, emphasizing that it is a long-term scenario subject to macroeconomic and industry developments.