Tom Lee of Fundstrat has raised his price target to $200,000 in a recent interview with CNBC Crypto World.
According to Lee, the entire household net worth in the United States is approximately $141.7 trillion, and consumers who purchase bonds are guaranteed to lose money over the next ten years.
As a result, the analyst anticipates a large influx of speculative cash into crypto:
“That could be huge.”
Cryptography, according to Lee, is appealing because every transaction can be under tracking. He also emphasizes how “much easier” it is to manage and move digital money, making it a viable payment option. The analyst, on the other hand, sees the high Bitcoin price as a barrier to acceptance, and believes the sector would profit from charging pricing in satoshis.
According to Lee, Fundstrat’s venture into cryptocurrency comes with skepticism and scorn.
However, now that crypto has proven itself, the majority of the firm’s clients consider it as a viable asset class.
Lee believes that another prominent cryptocurrency will emerge over the next ten years. That’s, although he admits that few people have enough conviction to make any clear forecasts for the next decade:
“Unless someone has a crystal ball, it’s very difficult to be precise in crypto.”
Lee anticipated that the largest cryptocurrency would reach $100,000, but it only reached $69,000 before plummeting. Because of his poor estimates, the expert has received a lot of flak.
In a recent interview, the Fundstrat CEO emphasized the need of not having an excessive amount of cryptocurrency in one’s portfolio.
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