Bitcoin will be the best-performing asset by the end of the year. For now, its value has increased more than threefold, and increasing demand and derivative tools based on cryptocurrency will contribute to growth.
Bitcoin will probably perform better than shares and bonds by the end of this year, according to Tom Lee, co-founder of Fundstrat, a boutique company that explores investment opportunities across sectors. He was also one of the first Wall Street strategists to report on the most famous cryptocurrency.
"I believe that Bitcoin is a weakly owned asset with the potential for future huge" sponsorship "on the part of institutional investors."
He added that Bitcoin has many of the characteristics of gold that make it an attractive alternative currency, as well as a very good value-saving tool. In a CNBC TV show, Lee was asked a few blinking questions about the subject:
Bitcoin or Gold?
"Yes."
What would you prefer to own - a Battle or a portfolio of shares in US companies?
"If we look at the period from now until the end of the year, of course, that Bitcoin."
Will Bitcoin be the best performing asset?
"Yes."
Bitcoin jumped to an incredible $ 4,200 and is currently close to that value. Although two weeks ago, Bitcoin split into two, he was stronger than ever, marking almost fourfold growth since the beginning of the year.
Cryptocurrency is currently trading 4% more than 24 hours ago due to a slight drop and does not seem to slow down. Meanwhile, Ethereum has also seen strong growth since the beginning of the month. After having fallen from 400 to a price below $ 200, now to buy 1 Ether, you have to spend at least $ 300.
Lee publishes a report early last month explaining Bitcoin's potential to reach 20 kilos. Dollar, and perhaps 55-yh. Dollars to 2022. This forecast is not to be underestimated, as Tom Lee is known for his true predictions, he is a favorite of institutional investors and was one of JPMorgan's leading strategists. He was also one of the few people on Wall Street who knew that if Trump won the election, stocks would rise rather than fall - which happened.
Lee also sees other reasons for the optimistic mood for Battle:
"Institutions need to buy the coin directly through a broker, but CBOE and CFTS have already traded futures, so I think demand will grow."
Last month, CBOE (Chicago Board Options Exchange) said it plans to offer Futures trading through futures early next year and CFTC (US Commodity Futures Trading Commission) has already approved LedgerX to provide clearing services related to Bitcoin and the remaining cryptocurrency.
Lee is also one of the most gloomy attitude towards the presentation of US stocks by the end of the year. He believes that their value will be about 8% lower than what we are seeing now, while his colleagues expect the value to remain.
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