[Tom Lee: Long-term Target Price for ETH Set at $250,000, Entering the ETH 2.0 Phase] Foresight News live report: BitMine Chairman Tom Lee delivered a speech at WebX 2026, reiterating the view that 'ETH is money.' He drew comparisons to the valuation leap from '1.0 to 2.0' seen in companies like Amazon, NVIDIA, and JPMorgan, suggesting that Ethereum is now entering the ETH 2.0 phase, with a long-term target price of $250,000. He believes the current market sentiment has bottomed out and that Ethereum is the antidote to the 'Valley of Wealth Terror.' Tom Lee revealed that BitMine has acted as a lead investor to support two spin-off organizations from the Ethereum Foundation: EthLabs, founded by former Ethereum Foundation contributors, and the independent nonprofit Ethereum Institutional. The two entities are respectively focused on accelerating Ethereum's 'institutional supercycle' and driving large-scale institutional financial adoption on-chain. Tom Lee stated that BitMine currently holds 5.74 million ETH (accounting for 4.8% of ETH's supply). Future goals include slowing down the pace of accumulation, gradually increasing holdings to 5% of ETH's supply, continuing to fund Ethereum Foundation spin-off projects and 'public goods,' investing in financial services and crypto unicorns, and strengthening the Ethereum ecosystem.