Wall Street strategist Tom Lee told CNBC that Bitcoin is digital gold for the Y generation and could easily reach the $100,000 price target. He stated that he solved the “digital trust” problem in the digital economy with a price and continued as follows:
“Today it is treated as a small company. In the next 10 years, we will see the new generation replace Bitcoin as a safe haven for gold. So, Bitcoin is essentially digital gold for the next generation. If Bitcoin can only capture 5 percent of the gold market, it will reach $25,000. But 5 percent seems like a very small percentage. Let’s say 10 or 15, then Bitcoin can easily see $100,000.”
Lee added that it is wrong to treat Bitcoin as a currency.
< Bitcoin hit a new record high on Tuesday, surpassing $11,000, according to
CoinDesk data. After this record peak, the price was withdrawn to the $9000 band.