Ethereum’s financial strategy (ETH) has recently seen a huge boom, with Bitmine Immersion Technologies becoming the largest institutional ETH owner.
The company owns more than $2 billion in Ethereum.
Bitmine Chairman Tom Lee’s “Executive Message” video series is designed to inform investors about Ethereum’s long-term bullish potential, and has released an incredible price forecast for ETH.
At this point, Bitmine claimed that Ethereum could cost $60,000, based on reliable research from many companies.
In that post, Bitmine said it had consulted with a number of research companies to estimate the potential value of Ethereum. The companies used the “reserve value” model to assess the value of Ethereum in terms of payment systems and payment volume, and estimated the total network value at $7 trillion.
With Ethereum’s network value at just $0.4 trillion and the price is around $3,800, the analysis suggests that Ethereum could rise 18 times and the price could reach around $60,000.
This forecast is consistent with the company’s ETH financial strategy, but it is not considered an achievable price target in the short term, as Tom Lee predicts that Ethereum could reach around $15,000 by the end of the year.
*This is not investment advice.