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Bitcoin $25K in Five Years, 'Makes Perfect Sense' to Under 30s, Says Wall St Strategist - Bitsonline (press release) (blog)

Published 2 years ago

Bitcoin $25K in Five Years, 'Makes Perfect Sense' to Under 30s, Says Wall St Strategist - Bitsonline (press release) (blog)

BitsOnline via bitsonline.com

Bitcoin could be worth $25,000 USD in five years despite recent setbacks, according to major Wall Street strategist Tom Lee. Advising people not to listen to naysayers, Lee said bitcoin’s value lies in its trustless distributed network — a notion that “makes perfect sense” to people under 30. Nothing Can Stop the Bitcoin Price from Hitting $9000 Soon Lee is a financial strategist and co-founder of Fundstrat Global Advisors. Speaking on CNBC’s “Fast Money”, Lee was asked if he remained bullish on bitcoin despite the recent regulatory tightenings in China. No doubt the Chinese actions will have a liquidity effect, he said — exchanges there make up 30 percent of global bitcoin trading volumes. Taking a dig at naysayers like JPMorgan CEO Jamie Dimon, Lee said: There really aren’t that many actual bitcoin holders today, he added. Lee described trust in Bitcoin “from a generational perspective”, comparing it to attitudes to gold versus the dollar in the 1980s. At that time, Lee claimed his model showed bitcoin could be worth between $20,000 and $55,000 by 2022 — depending on a few variables. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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