Fundstrat co-founder Tom Lee, in an interview with CNBC, named $200,000 a target for Bitcoin and explained what could drive its attainment.<\/p>\n
According to the analyst, aggregate US household net worth exceeds $141 trillion. Monetary policy of the Fed<\/span> leads to people almost certainly losing money on bond investments over the coming decade.<\/p>\n Thus, Lee expects a surge of speculative capital into cryptocurrency, which could be \u201cenormous\u201d.<\/p>\n He also noted that digital money is far easier to manage and move. Another feature is the transparency and traceability of transactions.<\/p>\n In his view, Bitcoin’s high price is a barrier to mass adoption of the asset. Therefore, he supported the idea of moving to satoshis \u2014 a millionth of a coin.<\/p>\n When it comes to price forecasts for the cryptocurrency, the analyst stressed that few have enough conviction to make specific predictions for the next decade.<\/p>\n \u201cIf you don’t have a crystal ball, it’s very hard to be precise in crypto,\u201d he joked.<\/p>\n<\/blockquote>\n Lee recalled the skepticism with which Fundstrat’s entry into the crypto industry was greeted. However today most of the firm’s clients view digital money as a legitimate asset class.<\/p>\n The analyst noted that cryptocurrencies should constitute a \u201creasonable\u201d portion of an investment portfolio.<\/p>\n\n