Fundstrat Co-Founder Tom Lee Believes Price of Bitcoin Will Continue to Increase
Tom Lee, who co-founded the Fundstrat market research company, has publicly stated that the price of Bitcoin will only continue to increase. According to Lee, bitcoin will continue to see growth because millennials have taken such an intense interest in it.
The strategist has said that the millennial generation will power the currency, comparing it to the way baby boomers helped the stock market in the 80s. On Tuesday, December 12, Lee stated that millennials have taken a liking to not only bitcoin but also social media and digital organizations.
“I think what viewers have to appreciate is, this is a millennial story,” Lee said.
Back in October of this year, Tom Lee forecasted that the virtual currency will eventually hit the $25,000 mark by the year 2022. These predictions don’t seem that far-fetched either considering during 2017 bitcoin has posted a whopping 1,700% growth, hitting more than $17,00 this month.
Additionally, with CME Group’s launch of bitcoin futures, there is a good chance the price of bitcoin will continue to increase.
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