During a recent appearance on the "Bankless" podcast, Fundstrat founder Tom Lee stated that the "upside case" for Ethereum (ETH) is actually higher compared to Bitcoin (BTC).
"Could ETH do 100x? I mean, Joe Lubin sort of has this kind of upside in his mind," Lee said.
In fact, Lee is convinced that Ethereum could potentially flip Bitcoin in terms of network value.
According to Lee, Ethereum could also be part of the infrastructure that supports artificial intelligence (AI) development in the U.S., meaning that it could play a strategic role for the U.S. government.
Bull case for ETH strategy companies
The analyst is convinced that Ethereum treasuries could potentially see significantly more upside compared to the underlying asset, drawing parallels with Michael Saylor's Strategy (formerly MicroStrategy).
"Now, if Micro Strategy had triple the upside of Bitcoin, then that means in theory the Ethereum treasuries could triple whatever Ethereum could do," he said.
As reported by U.Today, Tom Lee's BitMine Immersion Technologies (BMNR) recently became the leading corporate holder of the top altcoin, racing ahead of Lubin's SharpLink Gaming.
$6,000 in 2025?
In the near term, Lee sees Ether surging to $4,000. The flagship altcoin has not seen the aforementioned leve since late 2024, and Lee argues that ETH was actually a better story in December.
"So, like to me, we should at least recover to that level. And then Ethereum is a better story today than it was a year ago. And a year ago, Ethereum was at a 0.05 ratio to Bitcoin, right?" Lee added.
Lee is convinced that ETH is undervalued as of now, arguing that the cryptocurrency should actually be trading at $6,000.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team