Here at BitStarz, we always have plenty of time for Tom Lee. As a leading Fundstrat strategist, he appears to have always spoken a lot of sense when it comes to the cryptocurrency market. Lee recently came out in full-support of Bitcoin, with his rallying call only getting strong as the weeks go by. Understanding Bitcoin’s true potential, he has once again spoken publicly on his bullish prediction for the year ahead. Speaking to CNBC, he remains extremely confident that Bitcoin will hit $20,000 by mid-2018, and $25,000 by the close of 2018.
Bring on the bear market
A lot of crypto analysts aren’t straight talkers, flip-flopping between bull and bear predictions. Lee has proven to be the exact opposite of this since the turn of the year. Reiterating comments made back in the opening weeks in January, predicting that Bitcoin could “easily double” in price this year, Lee feels that we are on the brink of a bull market. These predictions are all detailed within his latest Fundstrat report.
While the bull market prediction is the key point to take away from Lee’s latest Fundstrat findings. It’s interesting to see that he also believes that various traditional corporations will soon begin to create internal cryptocurrencies. Feeling that at least three firms will bring a cryptocurrency to market, Lee said, “Already three major companies have announced efforts within cryptocurrencies, which demonstrate that corporations may be moving towards cryptocurrencies before Wall Street has embraced them.”
Big “bucks” and big plans
Bitcoin is what’s leading the crypto market and will likely do so long into the future. But, Lee sees the arrival new, corporation-backed cryptos playing a role in Bitcoin’s future price rise. The first name to show real legitimacy when it comes to creating a cryptocurrency is Rakuten, the Japanese e-commerce company. While it’s European business has stalled dramatically, it plans to move ahead with its crypto development plans this year. In a similar vein, Lee feels that many large companies – such Amazon, Starbucks, and Facebook – will also look towards Blockchain technology during 2018.
His words might seem somewhat outlandish, but there is certainly some truth behind them. In Starbucks’ case specifically, Lee speaks about how its chairman recently discussed plans for a possible use of Blockchain for a consumer payments app. In the case of Facebook and Amazon, Lee feels that both are expected to “announce a crypto strategy this year.” For Facebook, Lee speculates that should the social media giant go public, it might opt to reward investors via an ICO, rather than via traditional stock options. It’s certainly a different thought process, but given Mark Zuckerberg’s recent interest in cryptocurrency, it isn’t something you wouldn’t bet against.
Tom Lee backs record-breaking year for Bitcoin!
Lee is earning a reputation for being a man that’s willing to put forward hardline predictions. CNBC has even said that Tom Lee remains the “only major Wall Street strategist to issue formal price targets on bitcoin.” For this reason, his bullish predictions are certainly worth listening to, as it could still prove to be a record-breaking year for Bitcoin.