Tom Lee's Bold Prediction: Bitcoin to Soar to $150,000 by Year's End
CryptoNewsTerminal Staff04 Jun, 2024
Tom Lee's Bold Prediction: Bitcoin to Soar to $150,000 by Year's End
Institutional Interest Fueling Bitcoin's Ascent In a recent CNBC interview, U.S. equity market strategist Tom Lee, founder of Fundstrat Global Advisors, reiterated his bullish prediction for Bitcoin (BTC). Lee maintains that the leading cryptocurrency has the potential to reach $150,000 by the end of 2023. This prediction stems from Lee's observation of the steady inflow of capital into U.S. Bitcoin spot ETFs over the past 15 trading days. BlackRock's Bitcoin spot ETF, IBIT, has notably surpassed $20 billion in assets under management. Early Stages of Institutional Infrastructure Lee believes that Bitcoin's price still has room for significant growth due to the nascent stage of institutional infrastructure surrounding it. He stated, "We're still in the early stages of development in terms of building out the institutional infrastructure for Bitcoin." Confidence in Bitcoin's Future Tom Lee's prediction reflects the growing confidence among institutional investors in Bitcoin's long-term potential. As more institutions adopt and invest in Bitcoin, the asset's value is expected to continue to rise.
