Why Bitcoin Can Easily Get to $100K Before Year-End - Thomas Lee

Why Bitcoin Can Easily Get to $100K Before Year-End - Thomas Lee

Thomas Lee: Bitcoin can easily get to $100,000 before year-end

In this video, Thomas Lee shares his thoughts on the prospects of Bitcoin and policymakers' stance towards cryptocurrencies. Here is the summary of the question-and-answer session:

Interviewer: Are you still predicting $100,000 for Bitcoin by the year-end?

Lee: Yes, I think Bitcoin could easily get to $100,000 before year-end from today's $45,000. But I think that's in the context of what we see as a bigger move in financial markets. So, I think equities are broadly going to rally into the end of the year, and that takes up cryptos.
Interviewer: What do you see happening with the Fed in COVID?

Lee: We don't know what's going to happen with COVID. But the Fed is talking about tapering, and we have central banks around the world talking about it.

Interviewer: How do you think that will impact the markets?

Lee: We're only one year into expansion. So, it's early for the Fed to try to normalize policies. We're in the camp that thinks the Fed is more dovish than the market realizes. Fed's uncertainty is good for markets, as a dovish Fed means financial assets can still go up.

Interviewer: The SEC Chairman Garg Gensler appeared for the Senate on Tuesday. What are you anticipating coming out of the regulators in the United States as they start investigating DeFi and Coinbase?

It's very difficult to predict what regulators will do. They tend to watch and take notes. They don't have to be in a rush. And when they make a decision, it can be decisive. So, I think one of the best things the industry should do is not to antagonize regulators. Gary Gansler is also very educated on cryptocurrencies.

Interviewer: Finally, when you're looking forward to the United States, there have been questions about whether or not Bitcoin could become the global reserve currency of the world. Any thoughts on that?

Lee: I would say Bitcoin adoption is somewhat unstoppable. It's so widely held and it's proven its usefulness. But to topple the dollar is a tall order. I'm still in the camp that the dollar is going to be the dominant currency, but Bitcoin may be the dominant reserve asset.

Interviewer: So, you are advising that corporations stock up their reserves in Bitcoin?

Lee: You know a lot of companies don't store gold. So, they probably won't store Bitcoin. But it will make a lot of sense to deal with digital assets.

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