Investor Tom Lee says Bitcoin (BTC) is very likely to rise another 150% on top of the huge gains it has already made.
In a new discussion on the Wealthion podcast with Anthony Scaramucci, founder of SkyBridge Capital, Fundstrat's head of research says that BTC's current technological trajectory and the incoming crypto-pro-presidential administration will make Bitcoin a huge investment in his The company said it is in a position to achieve its price target.
“I think it's possible that we could go above $250,000 in the next 12 months, and it's probably very likely just by following this price cycle.
The second reason I think Bitcoin probably has more room to rise than that is because the new administration is operating on a pro-Bitcoin platform, and not only does the US legalize Bitcoin. , I think there is potential to make it a strategic reserve asset. This is because if the U.S. government ultimately acquires 1 million Bitcoins as intended, the United States will become the world's largest holder of Bitcoins and have a huge positive impact on the world. Legalize Bitcoin.
And just to add to that…this is kind of a strategy takeover from MicroStrategy, because MicroStrategy has proven that you can really create a lot of value by using Bitcoin as a balance sheet asset for MicroStrategy. ”
In a recent interview with Natalie Brunel, Lee said that Bitcoin's market capitalization could reach $16 trillion, an increase of about 750% from its current value.
Lee believes investors will increasingly flock to Bitcoin as a more useful store of value than gold.
At the time of this writing, Bitcoin is trading at $95,943.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me ×Facebook and Telegram
Surf the Daily Hoddle Mix
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
