Tom Lee: Bitcoin at $150,000 this year due to 3 reasons.

Ritu77

Tom Lee, an expert from Fundstrat, made it clear in a recent episode of CNBC's Squawk Box program that he expects Bitcoin's price to triple this year. Lee anticipates Bitcoin to continue its surge this year, primarily due to three reasons.

Lee's prediction follows Robert Kiyosaki's optimistic forecast for Bitcoin, who mentioned $100,000 in his prediction.

Lee stated that three major driving factors will lead Bitcoin to $150,000. Fundstrat's expert listed three key factors that could drive up the price of the world's leading cryptocurrency this year. The first has already been implemented—a spot Bitcoin ETF. These exchange-traded products allow investors to bet on the price of Bitcoin without having to buy it.

On January 11th, the U.S. Securities and Exchange Commission, led by Gary Gensler, announced the issuer list, including some of America's largest fund management companies—BlackRock, Ark Investment, Fidelity, and VanEck. According to a report by VanEck, the recent daily trading volume of its Bitcoin ETF was $399,923,600.

Lee mentioned that Bitcoin exchange-traded funds will begin to acquire Bitcoin from the market, thereby increasing demand for the asset.

Tom Lee stated that the second reason is Bitcoin's upcoming halving, which will cause supply shock. The cryptocurrency halving event based on proof-of-work occurs every four years. It will reduce the number of bitcoins mined per block by half, from the current 6.25 bitcoins to 3.125 bitcoins after the halving in April.

The third significant reason that could become the primary driving factor for Bitcoin's price is the Fed's expected start of interest rate cuts. Lee explained that low-interest rates are favorable for risk assets, and Bitcoin is considered a risk asset by Wall Street and banks.

Bitcoin to reach $100,000 by June 2024: Robert Kiyosaki
Earlier this week, investor and entrepreneur Robert Kiyosaki, known to many as the author of "Rich Dad Poor Dad" about financial knowledge, made a very optimistic Bitcoin prediction earlier this year.

In a brief tweet, he stated that he expects the digital gold to surge to $100,000 by June of this year. This is just two months away from Bitcoin's halving.

Sona59

If this prediction is true, let's take out a loan and buy in.

Samiksha

Digital gold will surge to $100,000? Just give me $10,000, that's enough haha.