Tom Lee predicts Bitcoin could reach $250,000

Tom Lee, head of research at Fundstrat, forecasts that Bitcoin (CRYPTO:BTC) could climb to $250,000 by 2024, citing favorable technical trends, increasing adoption, and supportive regulatory developments. 

During a discussion with Anthony Scaramucci on the Wealthion podcast, Lee highlighted key drivers for this potential growth, including Bitcoin’s role as a strategic asset and its appeal to institutional investors. 

Lee noted that Bitcoin's price trajectory aligns with historical cycles, indicating a bullish phase. 

“The historical performance of Bitcoin makes the $250,000 target quite achievable considering the current price cycle,” he explained. 

He emphasized that Bitcoin's ascent could be fueled by heightened adoption and a growing perception of the cryptocurrency as a store of value. 

A critical factor in this prediction, according to Lee, is the possibility of Bitcoin gaining official recognition in the U.S. as a strategic reserve asset. 

“If the U.S. officially recognizes Bitcoin, it would create significant confidence in the markets,” he said. 

He pointed to MicroStrategy’s adoption of Bitcoin for its balance sheet as a trendsetter that has encouraged both retail and institutional investors. 

Lee also underscored the importance of pro-crypto regulatory frameworks in driving Bitcoin's long-term value. 

“Crypto-friendly policies will reinforce the perception of Bitcoin as a store of value,” he remarked, adding that such developments could elevate Bitcoin’s market valuation to $16 trillion as it increasingly serves as an alternative to gold. 

Beyond its financial benefits, Lee characterized Bitcoin as a tool for trust and security. 

“Bitcoin is becoming not just an investment tool, but also a source of trust,” he stated, noting that institutional adoption would likely accelerate this evolution. 

Lee’s projection continues to draw attention from market participants, reflecting optimism about Bitcoin’s potential to reshape financial strategies amid increasing global adoption and regulatory support. 

At the time of reporting, the Bitcoin (BTC) price was $95,881.45.