Fundstrat’s Tom Lee: Bitcoin Could Reach Over $1 Million Becoming ‘Digital Gold’

CN
15 hours ago

As adoption grows and regulation becomes clearer, bitcoin price predictions grow more optimistic. Tom Lee, CIO of Fundstrat Capital, an asset management firm, and also Bitmine’s board chairman, has predicted that bitcoin will keep rising in the next years, comparing it to gold.

During a recent interview at CNBC’s Squawk Box, Lee stated that bitcoin is poised to reach well over $1 million per unit as the status of the cryptocurrency grows to become what has become a signature surname for it: digital gold.

Lee declared:

So I think digital gold means bitcoin should be worth over a million per bitcoin and it could happen in the next few years.

Furthermore, Lee believes that the current regulatory achievements, including the recent approval of the GENIUS Act, will benefit the whole ecosystem this year. “I think the 200,000 to 250,000 for bitcoin still makes sense because that would still only value it at 25% of the size of the gold market,” he stressed.

Lee has been consistent with his predictions, always establishing similarities between bitcoin and gold, and making estimations about the former’s needed price to reach the precious metal’s market cap. But bitcoin is not the only digital asset Lee is closely following.

For him, ether has a chance of riding the current stablecoin-friendly climate, highlighting that stable assets have become the ChatGPT moment for crypto, as both users and institutions have begun adopting them.

While purchasing stake at companies like Circle can be a form of getting into the stablecoin market, Lee assessed that Ethereum was the way to “play” stablecoins and profit due to the large number of stable assets issued on top of it. “If you value it [ether] similarly to Circle, it’s more between $10,000 and 20,000,” he concluded.

Read more: Bitcoin’s Moonshot: Fundstrat’s Tom Lee Sees $1M–$1.5M Target in Play

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