- Tom Lee, a crypto market analyst, predicts Bitcoin could reach $500,000 within the next 5 years due to Bitcoin’s limited supply and the potential massive increase in demand from the expected approval of Bitcoin spot ETFs.
- Lee believes younger investors will want to own their private keys (“my keys, my coin”), while older investors with most of America’s wealth will prefer to own Bitcoin through public markets and proxies if spot ETFs are approved.
- Lee isn’t alone in making bold 6-figure predictions, with Robert Kiyosaki also predicting Bitcoin will reach $150k soon following the approval of spot ETFs.
Crypto market analyst Tom Lee has made a bold prediction that Bitcoin could reach $500,000 within the next five years. This comes after Lee predicted Bitcoin hitting $100,000, and maybe $150,000, within the next 12 months.
Lee’s Reasoning
Lee cited Bitcoin’s finite supply and the potentially massive increase in demand for Bitcoin following the expected approval of Bitcoin spot ETFs as reasons for his prediction. Lee argued in an October interview that the prospective demand for Bitcoin if ETFs were approved could go as high as $100 million per day. Lee cited this figure in relation to Bitcoin’s upcoming halving event in April, which could reduce the daily supply to around $12 million.
Young vs. Old Investors
When asked about whether individuals who traditionally purchased Bitcoin through exchanges like Coinbase would continue to do so after the approval of spot ETFs, Lee said he believes younger investors want to own their private keys (“my keys, my coin”), while older investors will likely still purchase through public markets and proxies. Lee cited data showing older individuals control most of America’s wealth, and believes they will prefer owning Bitcoin through public markets.
Lee Isn’t Alone
Lee isn’t the only one making six-figure predictions. Robert Kiyosaki, author of Rich Dad Poor Dad, recently expressed excitement about the impending approval of spot Bitcoin ETFs, writing “Bitcoin to $150k soon.”
