Speaking at Korea Blockchain Week 2025, Lee argued that Wall Street and even the White House now favor Ethereum because no single entity is seen as controlling it.
He also linked Ethereum’s neutrality to future use cases, from AI-driven token economies to government-backed identity systems.
Lee has put that conviction into practice with BitMine, which he transformed into an Ethereum treasury firm earlier this year. The move sent its market cap soaring from $37 million in June to nearly $9.5 billion by late September.
With more than 2.15 million ETH in reserves, BitMine has become the world’s largest Ethereum treasury and now rivals Michael Saylor’s Strategy in scale and trading activity.
On prices, Lee remains bullish. He expects Bitcoin to end 2025 in the $200,000–$250,000 range and believes Ethereum will follow, targeting $10,000 to $12,000 by year-end.
Over the longer term, he sees Ethereum entering a “super cycle” that could last 10 to 15 years, with price discovery stretching into the $12,000–$15,000 zone and beyond.
For Lee, Ethereum’s neutrality, growing treasury demand, and institutional appeal make it more than just a competitor to Bitcoin — it could be the settlement layer for the digital economy of the future.
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