tl;dr
Tom Lee, the chief investment officer of Fundstrat, predicts a potential supply shortage for Bitcoin once it surpasses $100,000. He suggests that the scarcity of BTC available for sale could become a concern for crypto exchanges, leading to a significant price chase. Lee is confident that Bitcoin wi...
Bitcoin may face a supply shock above $100,000 price level, with scarcity becoming a concern for crypto exchanges, leading to potential 150% gains in the next twelve months - CNBC interview with Fundstrat's Tom Lee
Bitcoin's dwindling supply for sale could lead to a significant shortage once it surpasses $100,000, prompting predictions of substantial gains and potentially reaching over $250,000 in the next year - Tom Lee's insights on Bitcoin's future in an interview with SkyBridge Capital founder Anthony Scaramucci
Tom Lee, the chief investment officer of Fundstrat, predicts a potential supply shortage for Bitcoin once it surpasses $100,000. He suggests that the scarcity of BTC available for sale could become a concern for crypto exchanges, leading to a significant price chase. Lee is confident that Bitcoin will exceed $100,000 by the end of the year and could potentially reach over $250,000 within the next twelve months. At the time of his comments, Bitcoin is trading at $95,844.
The chief investment officer of a financial research boutique believes that Bitcoin (BTC ) could face a supply shock once it clears the $100,000 price level. In a new CNBC interview, Fundstrat’s Tom Lee says Bitcoin’s scarcity is starting to be a problem for crypto exchanges. Lee says the dwindling supply of available BTC for sale will likely be felt once Bitcoin shatters the psychological price point of $100,000. “I think some of this could be – there’s a lot of folks who don’t want Bitcoin over $100,000 and some of it may be the exchanges themselves are concerned, because there is a pretty low supply of Bitcoin available over the counter. So you have a supply shortage, and if Bitcoin makes a move above $100,000, I think there would be a big chase. So I’m still confident Bitcoin’s going to close much higher before year-end… Well above $100,000 before year-end. It’s just a matter of time.”
Recently, Lee hopped on an interview with SkyBridge Capital founder Anthony Scaramucci to give his 12-month outlook for BTC. According to the Fundstrat executive, Bitcoin could witness up to 150% gains from current levels in just one year. “Over the next twelve months, I think something over $250,000 is possible, but maybe highly probable based on just following this price cycle.” At time of writing, Bitcoin is trading for $95,844.