The CEO of the private financial research firm Fundstrat, Thomas Jong Lee, has often said that he is positive about Bitcoin and thinks the price will increase significantly in the near and long run.
Bitcoin is now worth $62,371. In a different interview, Lee said that Bitcoin’s long-term value could more than double and hit $150,000. The talk show aired on CNBC on May 7. In April, Lee told CNBC TV that BTC would hit new all-time highs this year, eventually soaring to $150,000 or even $500,000. Lee’s most recent guess strengthens that.
Bitcoin’s Boost Rune Protocol Enhances Network, Fundstrat CEO’s Hope Amid Market Fluctuations
Lee says Bitcoin could grow significantly now that the Rune Protocol is in place. A new way to make BTC network coins that can be used in different ways is the Rune Protocol. The Bitcoin network is now better.
Even though the market is very unstable and always changing, Fundstrat’s CEO still has hope. Spot Bitcoin ETFs were very exciting for many people. In March, BTC hit a new high of over $73,000 because of this. BTC’s price dropped by half on April 20. A lot of people thought it would go back up. Instead, it quickly lost value. By May, it was only worth $57,000.
Although its value has increased, Lee is sure that BTC will be worth a lot in the long run. He believes that cryptocurrency can help safeguard cash and shield it from rising prices. Because of these ideas, it might be worth more than $500,000.
Lee also discussed the US market and its current state. He said that prices in the US might drop a lot, which would make BTC more valuable. Lee said that the Federal Reserve (FED) would lower interest rates in the future. What would happen to the banks’ loan books? It would be helpful if you thought about it. When would US prices go down? Lee wasn’t sure, but he said it might happen in the second half 2024.
Lee thinks Bitcoin will grow strong because he says nice things about it. This is even more true when he thinks about how prices are rising. Even though the BTC market has changed, Lee’s ideas about Bitcoin’s future and its role in the bigger picture of money are still useful.
