Fundstrat co-founder is bullish on Bitcoin's future performance, with a target price of $250,000 within the year.

Gate News bot news, Fundstrat co-founder Tom Lee expressed optimism about the future of Bitcoin during an interview with CNBC on Monday, discussing broader market dynamics and the potential valuation trajectory of Bitcoin. Lee commented on the recent price movement of Bitcoin and its long-term fundamentals, linking its movement to macroeconomic factors and market psychology.

Lee views the current pullback of Bitcoin as a healthy consolidation phase rather than a period of stagnation. He stated: “Bitcoin is reacting to global liquidity, which is on the rise. I believe the Federal Reserve will adopt a dovish policy next year. Therefore, this is a positive factor for Bitcoin.”

He emphasized that the imbalance between supply and demand is further exacerbating, citing data from Bitwise: “95% of Bitcoin has been mined. But 95% of the people in the world do not own Bitcoin.” He believes that this imbalance may support the sustained upward momentum of Bitcoin prices in the next decade.

He stated: “In the next 10 years, the potential buyers of Bitcoin will increase significantly. Therefore, I believe there is still a lot of room for Bitcoin to rise by the end of the year.”

Lee reiterated his previous prediction about the price of Bitcoin: “This year it may reach $150,000, perhaps $200,000, or even $250,000.”

Looking to the future, he boldly provided a final valuation for Bitcoin and compared it to the market size of gold. “I think its network value should at least be comparable to gold,” he explained, mentioning that the valuation of gold above ground is about $23 trillion, which implies a price of $1.2 million for Bitcoin. Lee believes, “Bitcoin is more valuable than gold… The long-term value of Bitcoin could reach $2 million to $3 million, or even higher.”

Source: Bitcoin.com