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Tom Lee, Fundstrat’s Head of Research, said Bitcoin By the year 2025, it could reach $250,000. Lee, in an interview today on CNBC Squawk Box pointed out, that Bitcoin’s recent dip from its highest level of $111970 to $104,000 was due to a drop. Lee still believes that the market will hold up at that level.
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Lee’s short-term outlook
Lee told Squawk Box’s host Joe Kernen that 95% of all Bitcoin—about 19.80 million coins—has already been mined out of a maximum of 21 million. This leaves approximately 1,13 million coins to be created. This is a very tight budget. supply setup.
He added that 95% people in the world do not possess any Bitcoin. According to some reports, this gap between the supply of Bitcoin and its potential buyers may push up prices in months ahead.
Bitcoin needs to rise by about 140% from its current value of around $104,000. Lee is still confident that Bitcoin can reach $150,000 before December. It could also go as high as $200,000 and $250,000, if the market heats up.
The Supply and Demand Gap
Lee brought to light the fact most people around the globe have not purchased any Bitcoin. According to him, this imbalance is a result. One side, you’ve got a supply that is almost constant. In the coming 10 years, millions of people may decide to buy Bitcoin. He stated that the Bitcoin price would rise if just a fraction (or even less) of them decided to buy it.
At the moment, there are only 5% remaining to mine. This means that the new supply of coins is decreasing rapidly. At the same, new wallets, applications, and ways to purchase could generate more money. Lee believes that this mismatch could be a major reason why Bitcoin’s price continues to rise.
Value Targets for Long-Term Investment
When asked about Bitcoin’s terminal value—meaning its price when all coins are mined by 2140—Lee said he expects it to match gold’s roughly $23 trillion market cap. If there are only 20,000,000 coins, that’s $1.15million for each Bitcoin.
He selected 20 millions instead of 21 because he assumed that some coins would never be used (lost wallets, keys lost). Lee said that he believes Bitcoin can reach $2 million to $3 million per coin. This would make his average “bull case” The price of the property is $2.5million, a rise of 2,300% from its current level.
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Another Analyst’s Projections
Matthew Sigel has also developed a vision for the future of VanEck’s digital asset research. prediction. VanEck, on the basis of what Sigel said to investors, believes Bitcoin could reach $3,000,000 by 2050. Lee also predicted that Bitcoin would eventually surpass or match gold. Both forecasts assume a steady increase in demand and wider adoption by large institutions such as hedge funds or pension plans.
Gemini chart and featured image by TradingView
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Source: www.newsbtc.com
