Fundstrat’s Tom Lee predicted that the price of Bitcoin could skyrocket to as much as $3 million in the long term during his recent appearance on CNBC’s “Squawk Box.”
Lee has noted that 95% of Bitcoin has been mined, but 95% does not currently own the leading cryptocurrency.
“I just think that there is a huge demand versus supply imbalance,” Lee said.
The prominent analyst believes that there are still a lot of potential Bitcoin buyer left over the next 10 years.
Lee is convinced that Bitcoin should have the same network value as gold in the long run.
$250,000 this year?
Notably, Lee does not rule out that the price of the leading cryptocurrency could reach $250,000 by the end of the year.
Bitcoin is currently trading at $104,341, according to CoinGecko data.
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