Bitcoin supporter Tom Lee, partner at Fundstrat Global Advisors announced his new predictions.
Speaking to CNBC’s Squawk Box program, Tom Lee said that he expects Bitcoin to triple this year, that is, to $150,000.
Explaining the reasons for this, Tom Lee explained the three possible main reasons that will increase the price of the leading cryptocurrency Bitcoin this year.
“The first one has already happened; spot Bitcoin ETFs approved. These ETFs allow investors to bet on the price of Bitcoin without having to actually purchase BTC.
The second reason is the approaching Bitcoin halving, which will cause a supply shock. It will halve the amount of Bitcoin minted per block; The amount of Bitcoin, currently 6.25, will drop to 3,125 BTC after the halving in April. This will increase the price.
The third reason is the FED’s expected interest rate cut decision. Because low interest rates are beneficial for risky assets. Because Bitcoin is considered a risky asset by Wall Street and banks.”
“The dollar is used for more illicit activities,” says @fundstrat‘s Tom Lee on $BTC being used for illegal purchases. “Criminals don’t trust anybody, but they trust bitcoin.” pic.twitter.com/ysgaMs7JYC
— Squawk Box (@SquawkCNBC) February 21, 2024
*This is not investment advice.
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