The chief investment officer (CIO) of Fundstrat Capital, Tom Lee, believes Ethereum (ETH) is one of the “biggest macro trades of the next decade” with the potential for massive upside.
In a new interview on the Bankless YouTube channel, Lee says that as more mainstream investors embrace it, Ethereum could experience a parabolic rally similar to what Bitcoin (BTC) did in 2017.
[adinserter block="1"]“…If people go back to 2017 because I think Ethereum is having its Bitcoin 2017 moment this year, where Wall Street is finally getting behind ETH… Bitcoin was $1,000 in the early part of 2017. And it wasn’t until August… then it went straight up. I mean, literally went straight up.”
According to Lee, Ethereum is currently undervalued and could go up by up to 290% from the current level.
“I think the near-term price people should think about is Ethereum getting to $4,000 because Ethereum should be a better story than it was in December. And it was $4,000 in December. So 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 0.05 BTC [the price of ETH in Bitcoin… at 0.05 Bitcoin, it’s like almost $6,000. So, just like saying giving it credit for where it was a year ago, it should be $6,000.
But, of course, there is going to be a lot happening between now and year-end, including other Ethereum treasuries starting to buy Ethereum. Plus, Bitcoin goes up. So, I think by the year-end, it’s not unreasonable to think $7,000. Even $12,000 or $15,000 could happen.”
Ethereum is trading at $3,840 (0.0329 BTC) at time of writing.
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