Tom Lee Predicts $250K Bitcoin and $22K Ethereum by End of 2026

At Consensus Miami 2026 on May 7, Tom Lee, co-founder of Fundstrat Global Advisors, raised his year-end targets for Bitcoin to $150,000–$250,000 and Ethereum to $9,000–$22,000, declaring the crypto winter over. Bitcoin was near $80,400 and Ethereum around $2,317. Lee's bullish case for Bitcoin rests on a 'triple threat': accelerating institutional adoption, relentless spot ETF demand, and a favorable regulatory environment. He notes that if Bitcoin closes May above $76,000, a three-month technical 'blast-off' phase could follow. For Ethereum, his conservative $12,000 target assumes a return to its historical ETH/BTC ratio of 0.048 against a $250,000 Bitcoin; the $22,000 scenario requires a recovery to the 2021 peak ratio of 0.087. Lee chairs BitMine Immersion Technologies, which has accumulated over 5.18 million ETH (about 4.29% of circulating supply) through weekly purchases of roughly 100,000 ETH, making it the largest corporate holder of Ethereum. The firm originally expected to reach this milestone in five years but did so in under 10 months. Critics include Canadian billionaire Frank Giustra, who mocked Lee's optimism, and Fidelity's institutional forecast projects Bitcoin at $65,000–$90,000. Lee's targets require near-perfect macro conditions, but he sees the current market as a compelling buying opportunity.