Tom Lee, co-founder and managing partner at Fundstrat, has expressed confidence in bitcoin’s long-term prospects. Although the cryptocurrency currently sits approximately 15% below its all-time high, Lee contends that those purchasing at the $90,000 mark would likely not face financial losses.
‘Best-Performing Asset This Year’: Tom Lee Doubles Down on Bitcoin’s Ascent
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Tom Lee Still Targets $250K as Investors Hold Their Breath
Tom Lee has consistently championed bitcoin’s ( BTC) potential. In mid-December 2024, he shared a bold prediction on CNBC’s Closing Bell, forecasting that the leading cryptocurrency might hit $250,000 by 2025. As the new year unfolds, Lee’s enthusiasm remains unwavering. During a conversation with CNBC host Andrew Ross Sorkin, Lee fielded a question about his current perspective on bitcoin.
“ Bitcoin’s down roughly 15% from its highs,” Lee explained. “Which, for a hyper- volatile asset is a pretty normal correction and it is slightly following global liquidity, but we’re pretty early in this having cycle, so to me, I think bitcoin … in the near term, again, our technician thinks $70,000 is where we can sort of make a stand.”
Lee added:
It means you’re getting a big opportunity because I think bitcoin is gonna be one of the best-performing assets [this year].
Sorkin then asked Lee if he truly thought BTC would go down to $70,000. “Yeah, so there’s a Fibonacci,” Lee remarked. “ There are retracement levels, so you pull back from where you rally. So $70s is one level, it could go as low as the 50s … But that’s again, not a new level. It’s just where it touches.” The CNBC host then asked Lee if he thought people getting in on bitcoin at current prices were getting a “fair” price or a “good price to get in.”
Sorkin followed up by questioning Lee about the possibility of bitcoin ( BTC) dipping to $70,000. “Yeah, so there’s a Fibonacci,” Lee responded. “ There are retracement levels, so you pull back from where you rally. So $70s is one level, it could go as low as the $50s … But that’s again, not a new level. It’s just where it touches.” The CNBC host then pressed Lee on whether current prices offered buyers a “fair” opportunity or a “good price to get in.”
The Fundstrat executive continued:
You know, bitcoin is something you need to be long-term focused. I don’t think anyone’s gonna lose money buying here at $90. If they’re trying to time this, maybe they’ll get lucky and it goes to $70, but to me, bitcoin could be significantly higher this year, you know, maybe $200, $250, so … I think $90 is still a good entry point.
Lee’s insights and fervor illustrate a broader discourse on bitcoin’s enduring allure and inherent volatility as it navigates phases of growth and refinement. Though short-term fluctuations provoke debate, the broader perspective emphasizes its capacity to serve as a revolutionary financial instrument. So far, bitcoin’s evolution, intertwined with technological innovation and societal embrace, continues to mirror its profound potential to redefine economic systems.
