By the end of 2024, the price of the leading cryptocurrency is expected to soar to “six-digit figures.” This view was expressed by Tom Lee, co-founder of the analytical firm Fundstrat, in an interview with CNBC.
“It will be difficult to correct the [budget] deficit solely through changes in taxes and spending. But this is a likely reason for interest in bitcoin—its potential as a reserve asset. And if bitcoin rises in price, it helps offset obligations such as the deficit,” he stated.
The host reminded the expert of his forecast of digital gold reaching $150,000. Lee did not retract his words, suggesting the asset could exceed $100,000 by the end of 2024.
“I think now, in the [post-halving] era, bitcoin is becoming more relevant. The regulatory burden is decreasing, so there is great potential for an upward move,” explained the Fundstrat co-founder.
In January, Lee suggested the price of the leading cryptocurrency could reach $500,000 within the next five years. In June, a similar prediction was made by venture investor Chamath Palihapitiya.
Analysts at Bernstein expect bitcoin to reach $80,000–90,000 in the wake of Republican Donald Trump’s victory in the U.S. presidential election.