Fundstrat's Tom Lee Predicts Bitcoin Price Target of $150,000 by 2024, Anticipates Surge in Demand

Fundstrat’s Tom Lee Predicts $150,000 Bitcoin Price by 2024

In a recent interview with CNBC, Tom Lee, the managing partner at Fundstrat, shared his bullish prediction for Bitcoin’s future price. According to Lee, he sees Bitcoin reaching as high as $150,000 by 2024, representing a more than 230% increase from its current value.

Lee believes that the increasing demand for Bitcoin in the coming years could push its price even higher. He mentions the potential approval of a spot Bitcoin exchange-traded fund (ETF) as a factor that could contribute to this surge in demand. In his view, due to the finite supply of Bitcoin and the potential increase in demand, a price of around $500,000 could be achievable within five years.

Tom Lee’s Positive Outlook on US Stocks

In addition to his optimistic Bitcoin forecast, Lee is also bullish on US stocks for this year. He predicts that the biggest stock gains will occur in the second half of 2024. Lee bases his optimism on several factors:

The Federal Reserve is no longer fighting an inflation war.
ISM Manufacturing and purchasing managers’ indexes are bottoming out, indicating an acceleration in earnings.
Pent-up capital expenditures are expected to accelerate, benefiting earnings.
Mortgage rates are projected to fall, which would be favorable for consumers.

However, Lee notes that the first six months of the year may be more challenging due to uncertainty surrounding potential interest rate cuts by the Federal Reserve and concerns about inflation. Nonetheless, he believes that overall, 2024 will be a good year for stocks.

Hot Take: Tom Lee Envisions a Bullish Future for Bitcoin and US Stocks

Tom Lee’s predictions for Bitcoin and US stocks reveal his positive outlook on both markets. With his forecast of a $150,000 Bitcoin price by 2024 and the potential for even higher prices in the long term, Lee sees significant growth opportunities for cryptocurrency investors.

Additionally, his bullish stance on US stocks highlights his belief that various economic factors will drive stock gains, particularly in the second half of the year. While there may be some initial challenges, Lee expects positive outcomes for investors in the stock market.