PANews reported on June 3rd that, according to CoinDesk, Tom Lee, Head of Research at Fundstrat and Chairman of Bitmine, stated at the Proof of Talk conference in Paris that he expects Ethereum to eventually reach $250,000, with artificial intelligence and tokenization driving a significant transformation in financial infrastructure. Lee pointed out that with the advent of the machine-to-machine economy, Ethereum will transform from a speculative digital asset into a major global currency for automating computational processing power. Bitmine recently purchased 111,942 ETH, increasing its holdings to nearly 5.4 million ETH, approximately 4.47% of the circulating supply.

Lee stated that Bitmine is now eligible for inclusion in the Russell 1000 index, and its staking model has significantly outperformed holding spot ETH. He believes that corporate validators will replace the shrinking Ethereum Foundation as key managers of the network, with corporate entities currently controlling 7% of the circulating supply of Ethereum. Lee stated that if Ethereum reaches its $250,000 target, Bitmine's stock price will reach $5,000. He also stated that the current bearish sentiment marks a market bottom for Bitcoin and Ethereum, and that being bearish today is a good time to sell at the bottom.