Tom Lee: Ethereum is extremely undervalued, could reach $62K

Tom Lee, Chairman of Bitmine (BMNR), said that Ethereum (ETH) is currently extremely undervalued, calling it the future of finance and the center of tokenization. Speaking at the Binance Blockchain Week in Dubai on Dec. 4, he noted that ETH serves as the foundation for stablecoins and institutional tokenization. Lee stated that this has been the year of asset tokenization, with over $1 trillion in assets like real estate and financial instruments expected to move onto the blockchain, a process for which ETH could serve as the gateway. Lee also argued that cryptocurrency prices have bottomed out and that the recent downturn is merely a deleveraging process with no fundamental issues. He predicted a market rebound similar to the recovery seen in the eight weeks following the FTX collapse. Furthermore, he suggested that Bitcoin's four-year cycle is broken and that BTC will form a new all-time high by early 2026, after which it will behave like the S&P 500 index. Lee emphasized that if BTC reaches $250,000 and the ETH/BTC ratio returns to its eight-year average of 0.25, ETH could surge to $62,000.