Bitcoin Price Will Hit $250,000 This Year, Tom Lee Claims, Despite Gold Being ‘Under-Owned’ - Yahoo Finance

Tom Lee, co-founder of the research firm Fundstrat Global Advisors, has made a bold prediction that Bitcoin's price might soar to $250,000 by the end of this year. This assertion comes despite recent discussions around the underperformance of gold, which Lee describes as "under-owned" in the current investment landscape.

During a recent interview, Lee emphasized that Bitcoin is increasingly being recognized as a viable alternative asset class. He pointed out that institutional interest in Bitcoin has risen significantly, and many investors are now considering it as a hedge against inflation and economic uncertainty. He also noted that the ongoing developments in regulatory frameworks around cryptocurrencies could further bolster Bitcoin's appeal to mainstream investors.

Lee's forecast comes at a time when Bitcoin has been experiencing fluctuations in its price. While some analysts remain cautious due to market volatility, Lee believes that the long-term fundamentals for Bitcoin remain strong. He cited factors such as limited supply, growing adoption, and technological advancements in the blockchain space as key drivers that could propel Bitcoin to unprecedented heights.

In contrast, Lee expressed concerns about gold's position in the investment portfolio of many institutional investors. He argued that the precious metal is not being utilized to its full potential, resulting in an "under-owned" status in a time when alternative assets are gaining traction. According to Lee, the increasing acceptance of cryptocurrencies could lead to a shift in investor behavior, further diminishing gold's allure.

As the cryptocurrency market continues to evolve, experts and investors alike are closely monitoring Bitcoin's performance, especially in light of Lee's optimistic outlook. Whether Bitcoin will reach the $250,000 mark remains to be seen, but Lee's prediction reflects a growing confidence in the digital asset's future.

Key Takeaways

Tom Lee predicts Bitcoin could reach $250,000 by the end of 2023, driven by institutional interest and inflation hedging.
He highlights the increasing recognition of Bitcoin as an alternative asset class amid economic uncertainty.
Lee suggests that gold is currently "under-owned," with investors not fully leveraging its potential.
The ongoing regulatory developments in the cryptocurrency space may enhance Bitcoin's appeal to mainstream investors.

This article was inspired by reporting from Google News Crypto. · Report an issue