Bitcoin to Reach $150,000 by End of 2024, Predicts Thomas Lee

Renowned financial expert Thomas Lee, co-founder of investment firm Fundstrat, has made a bold prediction regarding Bitcoin's future value. According to Lee, by the end of 2024, Bitcoin is expected to reach an all-time high of $150,000. Lee attributes this significant surge in price to the upcoming halving event in April and the growing interest in spot cryptocurrency ETFs.

Lee, who has held key positions at major financial institutions like JPMorgan Chase and Salomon Smith Barney, expressed his confidence in Bitcoin during an interview with CNBC. He believes that Bitcoin has the potential to triple its current market value, which currently stands above $51,000. Describing Bitcoin as "reliable money" and an effective store of value, Lee highlighted its robust technological infrastructure, which has remained fraud-free since its inception in January 2009.

Lee explained that the increasing demand for Bitcoin, particularly due to the emergence of spot exchange-traded funds (ETFs), will facilitate its ascent to $150,000. Additionally, he emphasized the impact of the halving event, which occurs every four years and reduces miners' rewards by half, thereby maintaining coin scarcity and combating inflation. With fewer new BTC coins entering circulation after the April halving, Lee anticipates a corresponding increase in their value.

Lee's optimistic forecast extends beyond Bitcoin, envisioning a future where money flows from stocks and bonds into cryptocurrencies. Earlier this year, the Fundstrat co-founder speculated that Bitcoin could be trading at $500,000 within the next five years, underscoring his bullish sentiment towards the cryptocurrency market.