Fundstrat’s Tom Lee Sees Bitcoin Tripling, Ether Rising 5X By Year-End

[Ben Graham]

Fundstrat’s Tom Lee drew a crowd at Korea Blockchain Week 2025 with a bold call: Bitcoin could reach as high as $250,000 by year-end, and Ethereum could climb toward $12,000.

According to reports, Lee gave a range for Bitcoin of $200,000 to $250,000 and said Ethereum might hit $10,000 to $12,000, with upside to $12,000 to $15,000 under favorable conditions.

His case rested on macro tailwinds and growing institutional interest in crypto assets.

Market Drivers And Timeline

Reports have disclosed Lee’s timing is tied to a mix of factors. He pointed to a possible shift in US monetary policy from a hawkish stance to one that is less aggressive, which he thinks would be positive for risk assets.

BitMine Chairman and Fundstrat co-founder Tom Lee said Ethereum is a “truly neutral chain” poised to be Wall Street and the White House’s top choice, predicting a 10–15 year “super cycle.” He expects Bitcoin to reach $200K–$250K and Ethereum $10K–$12K by year-end, with ETH…

— Wu Blockchain (@WuBlockchain) September 24, 2025

He also mentioned that fourth quarters have traditionally had high performance for Bitcoin. Lee explained Ethereum as embarking on a “super cycle” of 10 to 15 years based on its function in tokenized systems and possible interest from institutions and developers.

Lee’s View On Ethereum

Ethereum’s long-term attractiveness, Lee said, extends beyond the short-term volatility of price movements. He contended the network’s neutrality and widespread developer base position it well for future use in AI, finance, and tokenized real-world assets.

That argument underpins his higher price scenario for ETH, where steady flows and adoption could push the token toward the upper end of his range.

Skeptics Point To Fees And Competition

Not everyone agrees with that outlook. Some industry figures have pushed back. For instance, critics say Ethereum has not seen fee growth that would match the scale Lee predicts, and that some institutional activity is migrating to alternative chains and layer-2 solutions.

Those voices warn that competition, scaling challenges, and shifts in developer activity could limit upside for ETH in the near term.

Macro Risks And What Could Break The Call

Lee’s predictions assume markets stay friendly. A sudden return to tighter US policy, an unexpected economic shock, or harsh regulatory moves could derail a rapid move to $200,000 or higher.

Liquidity matters here. For prices to hit Lee’s top targets by year-end, demand would need to be broad and sustained across spot markets, exchanges, and institutional channels.

What To Watch Next

According to market coverage, a few clear signals to track: central bank guidance from the US Federal Reserve, trading flows into spot Bitcoin products, large on-chain movements, and institutional custody announcements.

Each of these could either support rapid gains or cool investor appetite quickly, analysts say.

Featured image from BCB Group, chart from TradingView