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Bitmine chairman Tom Lee has attached the long-term of Ethereum to an explicit ratio framework and a “replacement costs” lens on global payment rails. In zijn ‘boodschap van 2 september’, richt de mede-oprichter van Fundstrat de analyse op het ETH/BTC-kruis en een bitcoin-anker aan het einde van het jaar van $ 250.000, met behulp van een dia-gebaseerd rooster-rooster-ratio-niveaus in ETH-spotdoelen-en breidt de calculus uit naar een $ 62.500 scenario als de Settlement stack of Etherum Etherum.
Why Ethereum could rise to $ 62,500
“The average Ethereum / Bitcoin ratio of 8 years is 0.04790 and it is currently 0.0432, which means that we are under the long-term average. All time in this ratio was 0.0873,” Lee out. “Of course it started higher, but I am talking about the all time of 2021. So we think that Ethereum should not only recover to the long -term average, it would probably have to reach high ratio all time and demonstrably surpass when we start talking about Ethereum who is like the chain for both Wall Street to build his payment rails and the financial system.”
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He then walks through the core exhibition. “So let’s think about what that means for the price. I have a schedule here. On the left is Bitcoin-Prijs levels and then they are different levels from the Ethereum to Bitcoin ratio. Our target-this of the fund-side-side-front bitcoin is $ 250,000. Levels of Bitcoin and of this is the 2021 and different levels of Bitcoin.
The slide shows: if BTC runs to $ 250k and ETH only acts with the average ratio, this implies ~ $ 12,000; If ETH is recovering 2021 -ratio high from ~ 0.087, it jumps closer to ~ $ 22,000. “But that is just a ratio recovery,” Lee continues. “If you look at the replacement costs of payment rails and the banking system, this will bring you to an implicit value of Ethereum of approximately $ 60,000. And that brings the ratio to around 0.250 Ethereum to Bitcoin ratio. And as you can see, you will reach $ 62,500 per ethereum.”
Lee intercondes this ratio-first mathematics in a broader structural statement that Ethereum is introducing a “1971 moment” for finance, since Real-World assets are synthesized in instruments on chains and stablecoins as a digital basic money. The numeric anchor in the short term is the 0.0432 ETH/BTC print that is under the 0.04790 eight years average; The medium -term objective is a reversal to and possibly further, the high of 2021 that he quotes. The grid translates those waypoints into discreet ETH prices against a fixed Bitcoin reference, so Lee emphasizes both variables in combination instead of a route with ETH only.
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In addition to the grid, Lee claims that Ethereum records the majority of Tokenized financial activities and that the proof-of-stake economy is in accordance with how regulated institutions pay today for safety and uptime. In his tell, banks and market operators already tell Siled Infrastructure Stacks; ETH Staken to secure common rails can spend it while returning a native yield, an incentive that, according to him, pushes the ETH/BTC ratio higher as risk capital and cash flows.
This is also where the display “replacement costs” in the $ 62,500 nourishes outcome: if Ethereum becomes the settlement substrate for payment networks, tokenized credit and equity and AI linked data rights, the market should praise the ETH on the value of the rails that only replace it instead of Historical Multevoudensteist.
The message also contains the business blue pressure of Bitmine within that macro arch. Lee describes Bitmine as an ethereum treasury business build to compound ETH per share through five liver liver-Equity Issued Above Nav, Equity-linked Volatility Monetization, Operating Cash Flows, Turnards, And Mo A Fote TreaSuries An ETH Balance sheet Into an Income-Producing Infrastructure Asset.
Lee’s mathematics explicitly makes the dependencies: a Bitcoin anchor around $ 250,000 and an ETH/BTC preface first to the long-term average (~ 0.048), then to the peak of 2021 (~ 0.0873), and in the scenario of the replacement, until ~ 0.25. The first two steps imply ~ $ 12,000 – $ 22,000 ETH on its grid; The third defines the $ 62,500 “Skyrocket” case that is linked to financial migration and AI-tra scheme on Ethereum. As he says it: “This is how you get $ 62,500 per Ethereum token.”
At the time of the press, ETH acted at $ 4,377.
Featured image made with dall.e, graph of tradingview.com