Fundstrat co-founder Tom Lee believes that the Bitcoin price has not peaked yet.
In the latest episode of the “Speak Up” program with famous American investor Anthony Scaramucci, Lee expressed his belief that the current market situation is not a peak indicator for BTC.
“That doesn't mean it's going to reverse today, but I don't think it's a peak,” Lee said. Seeing the recent decline in Bitcoin's price as a bear trap, Lee claims that it could potentially be a good buying opportunity. “I think the April turmoil is kind of fooling us,” he added.
Lee also highlighted Bitcoin's technological breakthrough, describing it as “the purest form of trust.” He argued that Bitcoin's high level of security gives it a significant benefit.
Bitcoin has a proven track record as an asset that has been around for 15 years. Lee posed the question: “How many trillion-dollar markets have existed for 15 years and then disappeared? Never in history.”
Lee is confident that Bitcoin's price will not drop to zero due to the size of the market. He describes such a scenario as “unprecedented”:
“There have been many attempts to eliminate Bitcoin, but ultimately financial institutions are slowly starting to realize that it is actually a great solution. That's why BlackRock and others are supporting this through spot Bitcoin ETFs.”
*This is not investment advice.