Fundstrat's Tom Lee: Bitcoin Will 'comfortably' Surpass $100K by Year-End

Appearing on the business news channel CNBC, Fundstrat's Head of Research, Tom Lee, confirmed that he does not doubt that with the same pace, BTC would

Fundstrat’s Head of Research Tom Lee is doubling down on his bullish Bitcoin price prediction, stating that the primary cryptocurrency could hit $100,000 by the close of 2024.

Appearing on CNBC, Lee said that BTC is set for a "great year," adding that the digital asset could hit a new all-time high of $100,000 this year itself.

"I think comfortably over $100K makes sense before the end of this year."

Appearing upbeat about Bitcoin’s price trajectory, the analyst said that the flagship crypto is positioned for a "great year," adding that the digital asset could hit a new all-time high of $100,000 this year itself.

However, Lee’s earlier projection of Bitcoin reaching $150,000 has been revised down by 33.33%. According to the Fundstrat exec, the adjustment is a "conservative" approach to account for macroeconomic headwinds.

Lee's bullish outlook is based on several factors, including the Bitcoin halving, which occurred in April and saw miner rewards cut in half. This event limited the number of new Bitcoins brought into the market. In the past, halving events have been a major catalyst for Bitcoin's price上涨.

For example, BTC rose by over 1,200% one year after the 2016 halving. After only seven months of halving, BTC is almost at the $100,000 gates.

But it’s not just about supply. Demand is heating up. Institutions are rushing in, and BlackRock's spot Bitcoin ETF is attracting millions in inflows while MicroStrategy continues to buy more Bitcoin. According to analysts, Bitcoin spot ETFs will unlock billions in new investments.

Another factor driving up Bitcoin's price is the increasing adoption by institutional investors. This year, several major institutions have launched Bitcoin products or announced plans to do so. For example, BlackRock, the world's largest asset manager, began offering a spot Bitcoin ETF in October.

This development is expected to attract billions of dollars in new investments into Bitcoin, as institutions that were previously unable to directly invest in the cryptocurrency will now be able to do so.

Institutions are also showing interest in over-the-counter (OTC) Bitcoin options trading, which could further boost demand for the leading digital asset and drive up its price.

Finally, Lee also pointed to the political landscape, which is largely favorable towards Bitcoin. After securing a second return to the White House, Donald Trump made bold promises about Bitcoin. His administration wants to create a national Bitcoin reserve. This aligns with Senator Cynthia Lummis’ Bitcoin Act, which proposes the U.S. acquire 5% of Bitcoin’s total supply over five years.

At current prices, that’s 1 million BTC worth over $72 billion. The plan also suggests holding the Bitcoin for at least 20 years, signaling a long-term commitment to digital assets.

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