Fundstrat’s Tom Lee predicted that Bitcoin’s price could skyrocket to up to $3 million over the long term during its recent appearance in CNBC’s “Squawk Box.”
Lee says 95% of Bitcoin is mined, but 95% currently do not own major cryptocurrencies.
“I think there’s a lot of demand for supply imbalances,” Lee said.
Notable analysts believe there are still potential Bitcoin buyers remaining in the next decade.
Lee is confident that Bitcoin should have the same network value as gold in the long run.
$250,000 this year?
In particular, Lee has not ruled out that the prices of major cryptocurrencies could reach $250,000 by the end of the year.
Bitcoin is currently trading at $104,341, according to Coingecko data.
