$3 Million Per Bitcoin? Tom Lee Shares Jaw-Dropping BTC Price Prediction
Fundstrat's Tom Lee predicted that the price of Bitcoin could skyrocket to as much as $3 million in the long term during his recent appearance on CNBC's "Squawk Box."
Lee has noted that 95% of Bitcoin has been mined, but 95% does not currently own the leading cryptocurrency.
"I just think that there is a huge demand versus supply imbalance," Lee said.
The prominent analyst believes that there are still a lot of potential Bitcoin buyers left over the next 10 years.
Lee is convinced that Bitcoin should have the same network value as gold in the long run. As reported by U.Today, the famed "permabull" predicted that Bitcoin would be able to outperform gold in 2025 despite lagging behind the lustrous metal in the first quarter of the year.
$250,000 this year?
Notably, Lee does not rule out that the price of the leading cryptocurrency could reach $250,000 by the end of the year.
Earlier, Lee clarified that such a target would be achievable for the leading cryptocurrency due to a more favorable regulatory landscape in the U.S.
Bitcoin is currently trading at $104,341, according to CoinGecko data. The cryptocurrency is down by roughly 5% over the past week after logging a new record high of $112,000 in May.
Last year, Lee correctly predicted that Bitcoin would be able to surpass the $100,000 mark for the first time in 2024. Bitcoin ended up surging above this level in December amid surging demand from institutional investors.
However, the permabull's predictions should still be taken with a pinch of salt given that he is also known for sharing some disastrous Bitcoin price forecasts in the past.
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