 ▲ Tom Lee/Source: Twitter ©Coin Leaders |
Tom Lee, founder of Fundstrat Global Advisors, a market research firm on Wall Street, appeared on the podcast 'Odds Lots' to discuss the unique factors driving Bitcoin adoption and the collaboration of Bitcoin. He emphasized that the value differentiates it from other asset classes.
Permabull (always an optimist about market direction) Tom Lee: “Bitcoin is fundamentally different from other asset classes because it has cooperative value. As you can see, those who contribute to the network profit from it.” He said.
He said, "Bitcoin is very safe. It has never been hacked in the last 14 years. This is amazing technology. Nothing on the Bitcoin ledger is false."
He continued, "In 2017, Fundstrat first wrote about Bitcoin. At that time, Bitcoin was about $1,000, and we expect that five years from now, in 2022, if the number of Bitcoin wallets increases by 70% and activity per wallet increases by 40%, Bitcoin “It was predicted that the coin price would exceed $25,000,” he added.
Tom Lee maintained his previous forecast in a recent interview with CNBC, saying, “Bitcoin price could reach $150,000 by the end of this year.”
He said, "Significant funds have been flowing into the U.S. Bitcoin spot ETF for the past 15 consecutive trading days. IBIT, BlackRock's Bitcoin spot ETF, has managed assets alone exceeding $20 billion. The institutional infrastructure surrounding Bitcoin is still in its early stages. “Considering that, the price of BTC still has room to rise,” he explained.
According to CoinMarketCap, Bitcoin is trading at $60,084 as of 7:47 a.m. on the 25th (Korean time).
