Tom Lee Predicts Bitcoin Market Cap to Surpass Gold, Reaching $16 Trillion

IconCryptoNewsTerminal Staff24 Jul, 2024

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Tom Lee Predicts Bitcoin Market Cap to Surpass Gold, Reaching $16 Trillion

Tom Lee, Founder of Fundstrat Global Advisors, believes that Bitcoin (BTC) has the potential to surpass gold as a store of value, leading to a significant increase in its market capitalization. During an interview with News Anchor Natalie Brunell, Lee stated that "a lot of investors believe that Bitcoin will become a more valuable asset than gold," resulting in a possible shift of funds into BTC. He further added, "The moment at which there will be a re-rating of BTC will be when its market cap overtakes that of gold ($15 trillion)." While gold is traditionally considered an inflation hedge against fiat currencies, Lee believes that BTC possesses superior resilience and utility, making it a more attractive investment option. He projects that BTC's market cap will reach approximately $16 trillion, representing a potential 11-fold increase from its current value of $1.3 trillion.

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