Tom Lee of Fundstrat Projects Bitcoin Market Cap Surge of 1,100%, Highlights BTC’s Role as a Hedge Against Disaster

Tom Lee, managing partner and head of research at Fundstrat Global Advisors, predicts that Bitcoin’s market cap could surge over 1,100% to match gold’s $16 trillion valuation. 

In an interview with Natalie Brunell, Lee argued that Bitcoin will become a superior store of value compared to gold. He highlighted Bitcoin’s practical advantages, noting that while gold has industrial and jewelry uses, its primary value lies in being a hedge against economic turmoil. 

Lee emphasized Bitcoin’s portability and resilience, suggesting it offers a more efficient hedge against calamity. Currently, Bitcoin trades at $66,096 with a market cap of $1.304 trillion.

Clever Robot News Desk 25^th July 2024