Cryptocurrency expert predicts 500% growth of bitcoin

Fundstrat Global Advisors managing partner Tom Lee has made a bold prediction for the flagship crypto asset. In a new interview with CNBC, he stated that within five years, bitcoin could grow by more than 500% from the current price level, i.e., to $ 200,000.

As for the justification of his bullish thesis, Lee notes: «Bitcoin is very useful. I tend to think that there is a tendency in the US to think that the financial system works well for everyone. But it only works for people who have money, including crypto assets.»

At the time of writing, the flagship asset is trading at $ 29.991 with a market capitalization of $ 629.7 billion. Traders made daily trading deals worth $ 13.3 billion. Bitcoin’s market share is 48.4%.

Last week, BlackRock CEO Larry Fink said that bitcoin could become one of the leading assets in the global financial sector in the future. According to Fink, BTC is able to outperform even the US dollar in terms of market capitalization.

Earlier, BlackRock reapplied for the registration of a spot bitcoin ETF. This led to a jump in the BTC rate, which overcame an important mark of $ 31,000. At the time, Binance CEO Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao commented on BlackRock’s actions, noting that the industry would benefit from the participation of large players: «The bigger the better.»