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Tom Lee: Bitcoin Price Expected to Reach $1.4 to $2.2 Million
Summary: During the Token 2049 summit in Singapore, Tom Lee, Chairman of BitMine, stated that Washington is enacting two new legislations - the Genius Act and the Bitcoin Strategic Reserve Act. Lee believes that by 2025, Bitcoin will still be in its early stages due to its digital storage value. He emphasized that Wall Street will ...
During the Token 2049 summit in Singapore, Tom Lee, Chairman of BitMine, stated that Washington is enacting two new legislations - the Genius Act and the Bitcoin Strategic Reserve Act. Lee believes that by 2025, Bitcoin will still be in its early stages due to its digital storage value. He emphasized that Wall Street will play a crucial role in boosting the digital asset market. Comparing Bitcoin to gold, Lee suggested that if gold prices were at $4,000 per ounce today, they could reach $5,000 per ounce. If Bitcoin is valued at just 10% of gold, it would reach $140,000. However, Lee believes Bitcoin will eventually match or even surpass the value of gold, leading to a value of $1.4 to $2.2 million per Bitcoin. Therefore, he remains bullish on Bitcoin.
