Podcasts Technology Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News 133: BITCOIN MAY RALLY 4,900% AND HIT $500,000 SAYS TOM LEE! | BTC Returns Above $10K, Here's Why

133: BITCOIN MAY RALLY 4,900% AND HIT $500,000 SAYS TOM LEE! | BTC Returns Above $10K, Here's Why

Published: Feb. 19, 2020, 2:10 p.m.

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Bitcoin Price May Rally 4,900% and Hit Half a Million Dollars, Says Fundstrat Analyst Tom Lee - Here’s How

The head of research at Fundstrat Global Advisors, Tom Lee, says Bitcoin (BTC) could rise to half a million dollars in the long run. In a new interview with Nasdaq, Lee says he stands by his view that the BTC price will hit $40,000 before the Dow Jones hits 40,000. When asked if Bitcoin will hit $500,000, Lee says he believes a 4,900% increase is possible based on the number of users that ultimately join the network.

“I think in the long term it’s possible because today Bitcoin’s transaction activity is twice that of PayPal, 7x the Discover network. It’s the second-largest transaction network after Visa, and there’s four billion Visa card holders. So if you get to five million Bitcoin users, it’s almost 100x increase in price.”