Speaking on CNBC’s Squawk Box on Feb. 21, the American entrepreneur said he thinks Bitcoin prices will reach $150,000 this year.
Lee cited three reasons for his bold price prediction, which would involve the asset moving 190% higher than current levels.
“You have demand improving with the new ETFs, you have supply shrinking with the halving, and if monetary policy eases which we expect, that’s supportive for risk assets,”
Tom Lee says #bitcoin is sound money and shares his price predictions. pic.twitter.com/CF5HCukoot
— Michael Saylor (@saylor) February 21, 2024
Bitcoin Rally to Continue?
The comments come as BTC appears to have reached resistance at $52,000 following a 30% rally over the past 30 days.
However, Lee appears unfazed, stating that “Bitcoin’s been holding up” before adding, “I do not think a drawdown is going to start that soon.”
When asked about performance over the next five years, he said, “It is sound money, and I think it’s proving to be usefu
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