Fundstrat founder: "Bitcoin to reach $150,000 by year-end... Up to $3 million possible in the long-term"
Summary
- Tom Lee of Fundstrat predicted that Bitcoin could rise to as much as $250,000 by year-end and up to $3 million in the long term.
- He stated that Bitcoin shows a high correlation with global M2 liquidity, and that a Fed policy shift could drive a bull market.
- Currently, 95% of Bitcoin has been mined, but 95% of the world's population has yet to own it, making large-scale adoption likely over the next 10 years.
Tom Lee, co-founder of Fundstrat and one of Wall Street's leading Bitcoin (BTC) bulls, reaffirmed his optimistic long-term outlook for Bitcoin in a recent interview.
According to The Cryptonomist, a crypto-specialized media outlet, on the 7th (local time), Tom Lee said in a recent interview with US financial media CNBC, "Bitcoin could reach $150,000 by the end of this year, with the potential to rise up to $250,000," adding, "In the long term, it could even reach $3 million."
He is known as one of the Wall Street analysts who first predicted Donald Trump's election win, and back in 2019, when the Bitcoin price was at $5,000, he also made headlines by advising "allocate 1~2% of your portfolio to Bitcoin."
He stated, "Bitcoin shows a high correlation with global broad money (M2) liquidity, and a shift to more accommodative Fed policy seems likely," explaining, "Such a liquidity environment will drive a bull market."
He added, "While 95% of Bitcoin has already been mined, 95% of the global population does not yet hold Bitcoin," forecasting mass adoption over the next 10 years.
Typically, an increase in M2 boosts liquidity in the financial system and increases available investable funds, tending to fuel demand for risk assets such as Bitcoin.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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