Tom Lee: "Bitcoin (BTC) could reach up to $250,000 this year"

JH Kim

Summary

Tom Lee projected that the price of Bitcoin (BTC) could climb up to $250,000 this year.
He analyzed that there is still a strong upward pressure in the mid to long term, citing the supply and demand imbalance and the ratio of BTC holders.
He stated that BTC could ultimately become a global store of value, and eventually rival the gold market size.

Tom Lee, co-founder of Fundstrat and a leading analyst on Wall Street, predicted that the price of Bitcoin (BTC) could surge as high as $250,000 this year.

According to The Crypto Basic, a cryptocurrency-focused media outlet, on the 2nd (local time), Tom Lee stated in an interview with CNBC's 'Squawk Box' that "BTC will continue its bullish rally this year based on a strong supply and demand imbalance."

He explained, "Of the total supply of 21 million BTC, about 95% have already been released into the market, but still, 95% of the world’s population do not own BTC," adding, "This structure signals exceptionally strong upward momentum from a supply and demand perspective."

He further emphasized, "Over the next 10 years, more people will recognize the value of BTC and enter the market," highlighting, "From a long-term perspective, the current price still represents an early entry stage."

In response to the question, 'If BTC is last mined in the year 2140, what do you estimate its final value will be?' he answered, "At a minimum, it will match the gold market size of $23 trillion," forecasting that BTC will ultimately solidify its place as a global store of value.

Meanwhile, as of 00:37 on the 3rd, based on the Binance Tether (USDT) market, BTC was trading at $104,267.76, down 0.42% from the previous day.