Tom Lee, co-founder of Fundstrat World Advisors, believes Bitcoin will develop 200% within the coming months, reaching a price of $150,000 per coin.

Lee made this assertion throughout an look on CNBC's Squawk Field on February 21, discussing numerous components that might affect Bitcoin's worth, together with the function of ETFs, the upcoming Bitcoin halving, and modifications in financial coverage. The next components have been mentioned.

Lee additionally confirmed his earlier prediction and stated he expects Bitcoin to achieve $500,000 per coin over the subsequent 5 years.

“Wholesome cash”

Lee's optimism about Bitcoin's potential for larger costs relies partly on expectations that he believes simple financial coverage will strengthen threat property like Bitcoin.

Mr. Lee stated:

“That's as a result of whereas demand is enhancing in ETFs, provide is lowering with halving. And as financial coverage eases, we anticipate that to help threat property.”

He additionally cited Bitcoin's resilience and up to date rally above $50,000 as the explanation why he thinks a major decline is unlikely within the close to future.

Throughout the interview, Mr. Lee emphasised Bitcoin's function as “sound cash” and its usefulness to buyers as a retailer of worth, a superior threat asset, and unparalleled safety features.

In keeping with Mr. Lee,

“[Bitcoin]has been an amazing retailer of worth. It's additionally extremely safe. There hasn't been a single fraudulent entry on the blockchain since its inception.”

Lee added that roughly 6% of all transactions made by means of conventional banks are suspicious, in comparison with “0%” for Bitcoin.

unlawful act

Lee additionally addressed issues about Bitcoin's affiliation with criminal activity, noting that whereas critics wish to level to Bitcoin's use in ransomware and different unlawful transactions, the underlying problem is He argued that it was not distinctive to the coin.

He identified that conventional fiat currencies, particularly the US greenback, are utilized in far larger quantities of unlawful actions.

Lee recommended that Bitcoin's adoption by criminals doesn’t diminish its worth or usefulness as a trusted asset, drawing an analogy to the primary use of gold by pirates. In keeping with Lee, society acknowledged the worth of gold exactly as a result of:

He stated:

“Consider it this manner: Criminals don’t belief anybody, however they belief Bitcoin.”

CNBC host Joe Kernen echoed Lee's sentiments, saying most individuals worth Bitcoin extremely as a result of it’s a robust retailer of worth that has confirmed its endurance. He pointed to the truth that 99% of all nefarious monetary actions are carried out by means of fiat currencies.