Tom Lee is positive about Bitcoin, predicting it could hit $100,000 soon and $250,000 within a year. He believes factors like the halving cycle, more support from institutions, and the U.S. government’s positive attitude will push its price up. Lee also sees Bitcoin as a way to protect against inflation, like gold, and advises investors to stick with it, even as other cryptocurrencies grow.
In a recent discussion with Anthony Scaramucci, Tom Lee, Chief Investment Officer of FundStrat, outlined a future where Bitcoin not only reaches $100,000 but climbs to $250,000. He says Bitcoin will stay as the leader in the crypto market.
Tom Lee’s bullish Bitcoin predictions
Tom Lee believes that Bitcoin’s price will rise because of the halving cycle, He also predicts that Bitcoin could reach $100,000 soon due to this supply-demand effect, which has happened in the past. In the long term, he thinks Bitcoin could go as high as $250,000 within a year, considering not just the halving cycle, but also the current economic conditions.
The FundStrat’s CIO Lee is positive about Bitcoin’s future because the incoming U.S. government is promising more support for Bitcoin and cryptocurrencies. He believes that this shift makes Bitcoin more legitimate and could lead to more institutions adopting it.
He went on to highlight Bitcoin’s increasing usage by companies like MicroStrategy, in this case, as part of its financial strategy. Lee thinks if more companies do the same there will be an increasing demand for Bitcoin, further raising its price.
Tom Lee also believes that if the U.S. government starts buying a lot of Bitcoin, it will make Bitcoin more trustworthy among people and big investors. While he focuses on Bitcoin, he also sees other cryptocurrencies like Ethereum, Solana, and Avalanche becoming more important. Lee thinks there could be a “season” next year where their prices also rise more.
Tom Lee believes that Bitcoin is becoming the best way to protect against inflation, similar to real estate and gold. With the rising global inflation, Bitcoin’s fixed supply and decentralized nature make it a safe place to store value. Also, he advises investors to stick with Bitcoin, even though other cryptocurrencies are growing.
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