In a recent interview with Anthony Pompliano, crypto bull and Bitmine Chairman Tom Lee explains how gold helps Bitcoin's future terminal price.
Bitcoin historian Pete Rizzo shared an insight from the discussion while predicting that Bitcoin might reach $3 million. Rizzo shared a snippet of the discussion where Lee discussed Bitcoin and Ethereum's potential with respect to gold.
TOM LEE EXPLAINS THAT THE HIGHER GOLD CLIMBS, THE HIGHER #BITCOIN'S FUTURE PRICE WILL BE
"I STILL SEE $3 MILLION PER COIN"🚀 pic.twitter.com/j7uXZYY0GU
The Bitmine chairman explains that the recent gold rally, which saw it reach a new all-time high, remains very bullish for Bitcoin and Ethereum as gold moves first and then Bitcoin catches up. Lee added that he thinks gold is actually helping Bitcoin's future terminal price.
When asked what the fair value of Bitcoin might be if gold hits $5,000, Lee responded that if the gold market cap is divided by the number of Bitcoin, that gives $1.6 to $2 million per coin.
HOT Stories Morning Crypto Report: XRP to Rocket 81% in November? Coinbase CEO Teases 'Big Month,' Bitcoin Is Bearish at $110,000, Warns Top TraderTop Trader Explains Why XRP Is Holding Up Better Than Other CoinsWhat's Next for XRP? Ripple CTO Set to Reveal Treasury Insights at Key EventWill Dogecoin (DOGE) Price Rebound in November?
When?
Lee's projection implies the fair value of Bitcoin to be $1.6 to $2 million if it matches gold's network value at $5,000.
When asked about the time frame that it might take Bitcoin to get there, Lee responded that in the next five years, which puts this at the year 2030: "I can see that in five years for Bitcoin," adding that Bitcoin does not get capped by gold as it actually gets pulled up by it.
Lee reveals a $200,000 price projection for Bitcoin by the end of 2025, saying that the chances of Bitcoin having a huge fourth quarter remain high. "I still think it's possible for Bitcoin to hit $200,000 by the end of the year," Lee said.
The Bitmine chairman names Fed's easing as a catalyst for Bitcoin's Q4 price action. Asked about the validity of the Bitcoin four-year cycle, Lee answered: "I'm more in the camp that it's a longer cycle, but there would still be 50 plus percent draw downs in the future or there kind of cycle is broken."
At the time of writing, Bitcoin was trading at $109,986.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
