Fundstrat’s Tom Lee Explains What Could Boost Bitcoin’s Price Above $200k | CryptoGazette
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The crypto market looks excellent today with the most important coins trading in the green. There are also lots of optimistic predictions about the prices of cryptos amidst the surge of Bitcoin above $44k.
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $44,200. Ethereum and the other important coins are also trading in the green as the crypto market recovers following more corrections in the prices.
Bitcoin could reach $200k
It’s been just revealed that the managing partner of investment research firm Fundstrat Global Advisors, Tom Lee, has just said that there is a category of investors whose involvement could send Bitcoin (BTC) to a six-figure price.
Lee says in a CNBC interview that baby boomers are not investing in Bitcoin. But on the other hand, he said that their involvement may trigger a rally that would increase the king coin’s price to over $200,000.
“If I had to say what’s the simplest way for a big step function to happen in crypto, it’s really getting existing generations of investors in the US, not new investors, to actually be willing to allocate to Bitcoin.”
He continued and said the following:
And 76% of all the wealth in America is controlled by people over age 65. So that’s nearly $100 trillion held by people that think Bitcoin is still kind of a hobby or things that people who live in the basement play with.”
He also addressed regulation and said that this could actually unlock a lot of that movement.
“Just imagine 2% out of $100 trillion allocated to crypto. You could see a five to 10, 15 times increase in total network value.”
There are all kinds of optimistic predictions about the price of the king coin and other digital assets. Stay tuned for more news and also keep your eyes on the crypto prices.
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