Tom Lee predicted Bitcoin's growth to $500,000 in the next five years

The quotes of the first cryptocurrency will reach $150,000 by the end of 2024 and $500,000 in the next five years. Tom Lee, co-founder of the Fundstrat analytical firm, expressed this opinion in an interview with CNBC.

Lee also noted the importance of the approval of spot bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC). Against this background, the price of the first cryptocurrency broke the $48,000 mark, but then failed the $43,000 level.

In August 2023, Lee predicted the rise of the first cryptocurrency to $150,000 after the approval of the SEC instrument. As an additional factor in the growth of the asset, he noted the upcoming halving in the spring of 2024.

Recall that after the launch of the bitcoin ETF, the author of the bestseller "Rich Dad, Poor Dad" and entrepreneur Robert Kiyosaki allowed the price of digital gold to rise to the level of $ 150,000.

Earlier, ARK Invest CEO Katie Wood predicted the first cryptocurrency of $1.5 million by 2030. The firm's analysts believe that even in a bearish scenario, the bitcoin exchange rate will rise to $258,500. Their conservative estimate is $682,800.