Fundstrat Predicts Bitcoin Will Reach $500,000 in 5 Years

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Fundstrat analysts predict that the price of Bitcoin will soar to $500,000 in the next five years.

According to Tom Lee, head of the investment company, this increase will be driven by institutional capital entering the market, improving liquidity for the largest digital currency.

Lee also highlighted the recent developments with the US Securities and Exchange Commission (SEC), which has launched a process to legalize exchange-traded cryptocurrency funds (ETFs) that track Bitcoin’s performance. He predicts that by the end of 2024, the price of BTC could reach $150,000.

The limited supply of Bitcoin is also expected to further drive its value. As Lee explains, the potential increase in demand after the approval of spot BTC ETFs will create favorable conditions for even more significant growth of the digital currency.