Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Fundstrat’s Tom Lee Says Bitcoin (BTC) Explosion Above $250,000 This Bull Market ‘Highly Probable’ – Here’s Why

Fundstrat’s Tom Lee Says Bitcoin (BTC) Explosion Above $250,000 This Bull Market ‘Highly Probable’ – Here’s Why

Daily HodlDaily Hodl2024/11/30 16:00
By:by Alex Richardson

Investor Tom Lee says that a further 150% move for Bitcoin ( BTC ) on top of its already big gains is very likely.

In a new discussion on the Wealthion podcast with SkyBridge Capital founder Anthony Scaramucci, the Fundstrat head of research says the current technical trajectory of BTC and the incoming pro-crypto presidential administration are putting Bitcoin in a position to achieve his massive price target.

“Over the next twelve months, I think something over $250,000 is possible, but maybe highly probable based on just following this price cycle.

The second reason I think Bitcoin has maybe more upside than that is because the new administration has run on a pro-Bitcoin platform, and I think the possibility of the US not only legitimizing Bitcoin but making it a strategic reserve asset, I think raises what would be the possible price scenarios for Bitcoin because if the US government, as the intend, ultimately gets to a million Bitcoin it will be the largest Bitcoin holder in the world and they exert an enormous positive influence on legitimizing Bitcoin.

I would add to that… It’s almost like taking a playbook from MicroStrategy because MicroStrategy has proven that using Bitcoin as a balance sheet asset has really created a lot of value for MicroStrategy shareholders.”

In a recent interview with Natalie Brunell, Lee said that Bitcoin’s market cap could soar about 750% from its current value to hit $16 trillion.

Lee believes investors will increasingly flock to Bitcoin as a more useful store of value than gold.

At time of writing, Bitcoin is trading for $95,943.

 
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix


Generated Image: Midjourney

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Has the Hype for AI Coins Ended? Will the Decline Continue? Here Are the Details

The AI token market has seen a significant decline over the past week, even as Bitcoin remains steady at around $93,000.

Bitcoinsistemi2025/01/13 17:22

Analysis Firm Says 12 Altcoin ETFs Could Be Approved in 2025, Announces First ETF to Get Approval!

Laser Digital noted that 2025 could be a big year for crypto ETFs.

Bitcoinsistemi2025/01/13 17:22

THETA falls below $2

Cointime2025/01/13 16:46