Tom Lee Floats $22,000 Ethereum Target: What Has to Be True?

BitMine Immersion Technologies chairman Tom Lee put a $22,000 Ethereum target on the table at a Miami event this week, with ETH trading at $2,280.70, a nearly 10x call from current levels. The mechanism is a two-part thesis: ETH/BTC ratio reversion toward historical averages applied against a $250,000 Bitcoin fair value assumption, layered with a structural demand argument that AI agents will require on-chain settlem…