Tom Lee, managing partner of Fundstrat Global Advisors, bitcoin He drew attention to himself by making a six-figure prediction for
In a recent interview on CNBC, Lee suggested that the price of Bitcoin could skyrocket by more than 500% from its current level in five years. This means that it can reach an average value of $ 200,000.
About the rationale for the ascension thesis, Lee noted:
Bitcoin is very useful. I think there is a tendency in the US to think that the financial system works well for everyone. But it works really well for people with money.
NEWS CONTINUES BELOW
The Fundstrat managing partner continued his comment, stating that the impact of the spot Bitcoin exchange-traded fund (ETF) approved in the US was underestimated.
“I think Bitcoin ETF, I think people underestimate how important that will be… In a Bitcoin ETF, the multiplier is roughly one-fourth, so one dollar of entry equals four dollars to the price change in Bitcoin’s market cap. In other words, if there is a demand of 100 billion or 200 billion dollars, it will be 800 billion dollars…
NEWS CONTINUES BELOWIf you don’t own an ETF then you will be relying on organic network effects. But I think an ETF is very likely and that would be a very important and underestimated catalyst.
You can follow the current price action here.