According to Tom Lee, co-founder of the analytical firm Fundstrat, Bitcoin’s price could reach “six-figure numbers” by the end of 2024. He shared his opinion in an interview with CNBC.
“It will be difficult to fix the budget deficit just with changes in taxes and spending. But that’s a likely reason for the interest in Bitcoin — its potential as a reserve asset. And if Bitcoin rises in price, it helps offset liabilities like the deficit,” Lee stated.
The host reminded Lee of his prediction for Bitcoin to reach $150,000, to which Lee confirmed his stance, noting that the asset could very well surpass $100,000 by the end of 2024.
“I think now, in the post-halving era, Bitcoin is becoming more relevant. Regulatory burdens are easing, so there’s significant potential for growth,” he explained.
In January, Lee also suggested that Bitcoin’s price could rise to $500,000 over the next five years. A similar prediction was made in June by venture capitalist Chamath Palihapitiya.
It’s worth noting that analysts from Bernstein expect Bitcoin to reach $80,000–90,000 in the event of a Donald Trump victory in the US presidential elections.