Fundstrat co-founder and chief investment officer Tom Lee made remarkable assessments on the general state of the markets, inflation, interest rates and especially Bitcoin in his “Squawk Box” program on CNBC.
While Lee maintained his year-end target for the S&P 500 at 6,600 points, his most notable statements were about Bitcoin.
Tom Lee described Bitcoin's current movement as “consolidation” and stated that the market has already reacted to the increase in global liquidity and the expectation of a more dovish FED in 2025. Stating that this situation creates strong support for BTC, Lee said, “Bitcoin is an asset that is sensitive to liquidity. Liquidity is increasing in the world right now and this is an upward signal for Bitcoin.”
Lee also made the following striking statement, citing Bitwise’s statistics:
“95% of the Bitcoin supply has already been mined. However, 95% of the world's population does not yet own BTC. This creates a huge demand-supply imbalance for the next 10 years.”
Lee stated that Bitcoin could reach levels of $150,000 to $250,000 this year.
Tom Lee thinks that Bitcoin is a more valuable asset compared to gold. The market value of gold is around $23 trillion. If this value is reflected in Bitcoin, Lee calculated that a single Bitcoin could reach $1.2 million, and went further and said:
“I think BTC, in the long run, can go up to $2 million or even $3 million. Even higher.”
*This is not investment advice.
