Fundstrat co-founder Tom Lee outlined an optimistic outlook for bitcoin during a CNBC interview on Monday, where he addressed broader market dynamics and the cryptocurrency’s potential valuation trajectory. Speaking in his capacity as managing partner and chief investment officer of Fundstrat Capital, Lee commented on bitcoin’s recent price behavior and longer-term fundamentals, tying its movement to macroeconomic factors and market psychology.
Lee assessed the current pullback in bitcoin as a healthy phase of consolidation rather than a downturn, stating: “Bitcoin is responding to global liquidity, which is moving up, and I think anticipating a dovish Fed next year. So that’s a tailwind for bitcoin.” He emphasized a significant demand-supply imbalance, citing Bitwise’s stat: “You know 95% of all bitcoin have been mined. But 95% of the world doesn’t own bitcoin.” He argued this imbalance could support continued upward price momentum over the coming decade:
There’s a lot more potential buyers of bitcoin over the next 10 years. And so I think there’s a lot of upside into year end.
When asked about his bitcoin price prediction of $150,000, Lee stressed: “$150,000, maybe $200,000, even $250,000 this year.”
Looking even further ahead, the Fundstrat co-founder provided a bold terminal valuation for bitcoin, comparing it to gold’s market size. “I think at a minimum it should have the same network value as gold,” he explained, referencing the estimated $23 trillion value of above-ground gold. That valuation implies a bitcoin price of $1.2 million, he noted. Lee opined:
Bitcoin is more valuable than gold … bitcoin could be $2 million – $3 million long term or even higher.
While such projections may appear ambitious, they reflect a viewpoint increasingly shared among bitcoin proponents who view the asset as a superior store of value compared to traditional commodities. Skeptics continue to warn of extreme volatility and speculative risk, especially as regulatory scrutiny heightens. However, crypto advocates highlight bitcoin’s fixed supply, global accessibility, and growing institutional interest as long-term strengths. They argue that as fiat currencies face inflationary pressure, decentralized assets like bitcoin offer a hedge, potentially supporting Lee’s case for substantial upside.
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