“Bitcoin could rise to 72.8 million yen in 5 years”, famous analyst Tom Lee predicts the price

10 months ago 102

Bitcoin price prediction

Tom Lee, a well-known analyst at Fundstrat Global Advisors, appeared on CNBC’s “Squawk Box” on the 10th and said that the price of the crypto asset (virtual currency) Bitcoin (BTC) is expected to reach $150,000 in the next 12 months. He expressed the view that the price could rise to approximately 21.8 million yen.

The price is predicted based on the limited supply and the sudden increase in demand when a physical Bitcoin ETF (exchange traded fund) is traded in the US. He believes that the price of Bitcoin in five years could reach $500,000 (approximately 72.8 million yen). On the same day, the U.S. Securities and Exchange Commission (SEC) approved the first Bitcoin spot ETF.

connection: All 11 Bitcoin ETFs listed, SEC approved for the first time in U.S. history for spot ETFs

Mr. Lee was asked on the program his predictions for Bitcoin price one year and five years from now, and he answered as above. His price forecast was based on the assumption that a Bitcoin spot ETF would be listed in the United States.

Lee also appeared on CNBC’s program in October.Appearance. At that time, the company predicted that if a Bitcoin spot ETF is approved, there will be demand of $100 million (approximately 14.5 billion yen) per day.

What is an ETF?

Abbreviation for “Exchange Traded Fund.” Refers to investment trusts listed on financial instruments exchanges, where a wide range of financial products, not just virtual currencies, are traded.

Bitcoin physical ETFs attract a lot of attention from investors because they actually own and manage Bitcoins.

Virtual currency glossary

connection:
Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks

Bitcoin ETF special feature

Other price predictions

Bitcoin price predictions have been increasing as expectations for the approval of a Bitcoin spot ETF in the US have increased.

British financial giant Standard Chartered Bank announced on the 8th that if fund inflows into ETFs go as expected, the price of Bitcoin could rise to the $200,000 level by the end of 2025. We predict that it is possible.

connection: “Possibility of over 14 trillion yen inflow into Bitcoin spot ETF this year” Analysis by Standard Chartered Bank

Furthermore, on the 10th, Robert Kiyosaki, author of the best-selling book “Rich Dad, Poor Dad,” posted on X (formerly Twitter) his prediction that “Bitcoin price will rise to $150,000 soon.” This prediction also appears to be based on the Bitcoin spot ETF.

BITCOIN ETF. Yay. Glad I bought years ago. Bitcoin to $150k soon. Gold to the moon as Central Banks buy , store, and never sell. Silver to crash as silver stackers sell to pay bills, caused by rising inflation. Great news for silver stackers. Time to buy more as silver crashes.…

— Robert Kiyosaki (@theRealKiyosaki) January 10, 2024