Tom Lee, CEO of Fundstrat, believes Bitcoin is on track to break its all-time high and reach $150,000 by the end of 2024.
Bitcoin’s Unique Appeal
Lee attributes Bitcoin’s volatility to its status as a “trustless” asset in a world where trust is often lacking. This makes it appealing to younger investors but challenging for older ones who are accustomed to traditional financial institutions.
Factors Driving Bitcoin’s Rise
Lee cites several factors contributing to Bitcoin’s bullish outlook:
- Looser monetary policy
- Upcoming halving in April
- Increased demand from new Bitcoin ETFs
Current Market Conditions
At the time of writing, Bitcoin is trading at $63,363, down over 7% in the past 24 hours. Despite this dip, Lee remains optimistic about its long-term prospects.
