Co-founder of the investment company Fundstrat Thomas Lee suggested that Bitcoin will peak at $150,000 in 2024 due to the April halving and high demand for spot cryptocurrency ETFs.
Thomas Lee held senior positions in the largest American banking corporation JPMorgan Chase and the investment company Salomon Smith Barney. During an interview with CNBC, Lee expressed confidence that BTC will be able to triple its current market value this year, with the first cryptocurrency currently trading above $51,000.
He called Bitcoin “sound money” and an effective store of value. According to Lee, the first cryptocurrency has one of the best anti-fraud technology infrastructures on the planet. Since the advent of Bitcoin in January 2009, not a single fraudulent entry has appeared on this blockchain, Lee emphasized.
The financial veteran explained that it will be easy for Bitcoin to reach $150,000 thanks to the growing demand for it due to the emergence of spot exchange-traded funds (ETFs). Halving will be another catalyst for Bitcoin growth, Lee is sure. The reward to miners is halved every four years, thereby maintaining coin scarcity and counteracting inflation. After the April halving, even fewer new BTC coins will be released into circulation, increasing their value.
Previously, Thomas Lee outlined a positive future for cryptocurrencies. According to his forecast, money will flow from stocks and bonds to cryptocurrencies. At the beginning of the year, the founder of Fundstrat suggested that within 5 years Bitcoin would be trading at $500,000.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
