Tom Lee Predicts Bitcoin Surging to $150,000 in 12 Months, Eyes Half a Million in 5 Years

Prominent figures in the financial community envisage Bitcoin reaching ambitious price targets like $150k and $500k in the coming years.

In a recent interview with CNBC, Thomas Lee, the managing partner at Fundstrat Global Advisors, shared his optimistic outlook for the future of Bitcoin.

Specifically, Lee suggested that within the next 12 months, Bitcoin could reach over $100,000. Moreover, he argued that there is potential for Bitcoin to attain more daring figures.

“I think in the next 12 months #Bitcoin will reach over $100,000…maybe $150,000,” says @fundstrat. “There’s potentially a huge increase in demand with a Spot Bitcoin approval so I think in five years something around half a million is definitely achievable.” pic.twitter.com/LvIQ2iBuYv

— Squawk Box (@SquawkCNBC) January 10, 2024

Why Bitcoin $150k Is Realistic

Backing his claim, Lee pointed out the combination of factors that could see Bitcoin reach the ambitious price targets.

First, the Fundstrat’s managing partner cited the finite supply of Bitcoin. Furthermore, he highlighted the potential surge in BTC demand following the approval of a U.S.-backed spot Bitcoin exchange-traded fund (ETF).

This view is based on the argument that a Bitcoin spot ETF could open the doors to a broader investor base.

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Previously, Tom Lee argued that the prospective demand for Bitcoin facilitated by ETFs could reach as high as $100 million per day. He cited the figure in the context of the forthcoming Bitcoin halving, potentially reducing Bitcoin’s daily supply to around 12 million.

As a result, Lee believes that Bitcoin reaching $150,000 within the next year is a realistic possibility. Meanwhile, Tom Lee is not the only financial expert with a $150,000 outlook for Bitcoin. 

As The Crypto Basic reported recently, renowned author of “Rich Dad Poor Dad,” Rober Kiyosaki, has proclaimed, “Bitcoin to $150k soon.”

Similarly, the foundation of his bullish outlook rests with the expected Bitcoin spot ETF.

$500k Per Bitcoin is Also Achievable 

Looking further into the future, Tom Lee expressed even more bullish sentiments. He stated that achieving a value of around half a million dollars for Bitcoin within the next five years is achievable.

In his words:

“There’s potentially a huge increase in demand with a spot Bitcoin approval. So I think in five years, something around half a million is definitely achievable.”