Tom Lee, director of the research department of Fundstrat, an investment research institution that frequently views U.S. stocks, recently said in an interview with CNBC that he believes Bitcoin may exceed $100,000 in the next 12 months, “Maybe $150,000. U.S. dollars" and is likely to reach approximately $500,000 within the next five years.
Tom Lee said:
“(Bitcoin) supply is limited, and now with the approval of Bitcoin spot (ETF), our demand is likely to increase significantly, so I think in five years, a price of around $500,000 is possible. "
Great speaking with @JoeSquawk @andrewrsorkin about#equitiesand#Bitcoin– despite misfire from SEC tweet, spot ETF seems inevitable – opens pathway for more investors to $BTC = supports higher prices PS: S&P 500 outlook $SPY still positive but bulk gains in 2H … https://t.co/qoAFTGx1Ca
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) January 10, 2024
The host then asked Tom Lee whether people who traditionally buy Bitcoin through exchanges will maintain their original practices after the spot ETF is approved. He replied that many younger generation investors tend to follow the principle of "my keys, my coin." ” principle (that is, a common saying in the currency circle is “If it’s not your private key, it’s not your coin”), so they will want to directly control the private key. However, Tom Lee also predicts that older generations of investors may still prefer to hold the asset through the open market and agencies.
This article Optimistic about the surge in demand after spot ETF approval, Wall Street bull Tom Lee: Bitcoin may reach $500,000 in 5 years appeared first on Zombit.
