Tom Lee, Fundstrat’s chief investment officer, Bitcoin $93,857.8He stated that he believes that those who do not turn a blind eye to BTC will eventually fall to zero.
Bitcoin’s Strong Durability
In an interview on the Global Money Talk YouTube channel, Lee said Bitcoin has proven its staying power by being around for over a decade. He emphasized that Bitcoin has been around for 15 years and Bitcoin 2.0 has not emerged.
Bitcoin’s Value and US Support
Lee stated that Bitcoin’s market value has reached $2 trillion. He stated that an asset of this size has never been lost in the history of finance. He also added that the US government supports Bitcoin as a strategic reserve asset.
Macroeconomic Factors and Investor Behavior
Lee stated that macroeconomic conditions create a positive atmosphere for risky assets such as stocks and cryptocurrencies. Additionally, the volatile sentiment of the market and the large amount of cash outstanding also support the bullish stance.
“It’s positive to see that Bitcoin has been around for 15 years and has become a $2 trillion asset.” –Tom Lee
“The US government has reiterated its support for Bitcoin as a strategic reserve asset. “This is positive for the Bitcoin price.” –Tom Lee
Lee said most investors think valuations are expensive and predict next year will be bad after the previous two good years. He stated that it would be beneficial to bet against the caution of the market.
He also said the fact that there is $7 trillion in cash sitting on the sidelines in the market is also a positive factor.
Expressing positive views about the future of Bitcoin, Lee stated that both institutional support and macroeconomic factors help Bitcoin maintain its value. For investors, these factors may support the decision to invest in Bitcoin.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
