Bitcoin to surge 41% by year-end says Fundstrat's Tom Lee

Fundstrat’s Chief Investment Officer, Tom Lee, has made a bold prediction about the future price of Bitcoin (BTC). In a recent interview, Lee expressed his belief that Bitcoin is poised to reach new all-time highs this year, driven by an expanding global money supply. He anticipates that Bitcoin will surge by at least 41% from its current levels before the end of the year. Lee attributes this potential surge to Bitcoin's response to global liquidity and the anticipation of a dovish Federal Reserve policy next year, which he sees as a tailwind for the cryptocurrency.

Lee's optimism is further bolstered by the supply-demand dynamics of Bitcoin. He notes that while 95% of all Bitcoin has been mined, only 5% of the world's population owns it. This imbalance, according to Lee, indicates a significant potential for growth in Bitcoin's demand over the next decade. He has set an ambitious price target for Bitcoin, ranging from $150,000 to $250,000 by the end of this year.

Looking further ahead, Lee envisions Bitcoin catching up to or even surpassing the market capitalization of gold. He estimates that the above-ground gold market is valued at approximately $23 trillion, which would translate to a Bitcoin price of around $1.2 million if it were to match gold's network value. However, Lee believes that Bitcoin's unique properties make it more valuable than gold, potentially leading to a long-term price of $2 million or even higher.

Lee's predictions are based on his analysis of Bitcoin's response to global liquidity trends and the potential for increased demand as more people become aware of and invest in the cryptocurrency. His views highlight the potential for significant growth in Bitcoin's value, driven by both short-term market dynamics and long-term structural factors.