Investor Tom Lee believes that Bitcoin (BTC) will reach his ambitious target price for a long time arch.
In a new CNBC interview, CIO from Fundstrat says that Bitcoin seems ready to reach new all time this year, driven by a growing global money supply.
According to Lee, he expects Bitcoin to rise by at least 41% compared to the current levels before the year expires.
“Bitcoin responds to global liquidity, which goes up. And I think it will anticipate a Dovish -Fed next year, so that’s a tail wind for Bitcoin.
Bitwise has a great stat: 95% of all Bitcoin has been mined, but 95% of the world is not possessed Bitcoin. So I just think that there is still a huge demand versus supply of imbalance, which means that there will be many more potential buyers from Bitcoin in the coming 10 years. So I think there is a lot of benefits until the end of the year … yes, [I got a target] From $ 150,000, maybe $ 200,000 or even $ 250,000 this year. “
But for a longer period, Lee Bitcoin sees the market capitalization of gold catching up or even surpassing, which ultimately leads to a huge price tag for BTC.
“I think it should have at least the same network value as gold, and if you look up above -ground gold, it is probably $ 23 trillion, so that would be $ 1.2 million for Bitcoin. But I think Bitcoin is more valuable than gold. Bitcoin could be $ 2 million, $ 3 million long term, even higher.”
At the time of writing, Bitcoin acts for $ 105,900.
https://www.youtube.com/watch?v=TK-7S_MUUXU
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