Bitcoin could get as high as $150,000 this year, says Fundstrat's Tom Lee

ACTUALLY STABILIZING AND IF WE GET LOWER INTEREST RATES, IT STABILIZES. >> DO YOU USE BITCOIN? I HAVE NO IDEA WHAT IT'S TRADING ON THE ETF, THAT WAS SOMETHING. YOU SAID POSITIVE THINGS ABOUT THAT MAYBE MORE PRINTING. MAN, I WAS THROWING OUT A NUMBER YOU SAID IT MIGHT BE STRONG FOR THE REMAINDER OF THE YEAR. >> YEAH. >> I SAID 75 WHAT DID YOU SAY TO ME >> I THINK IT'S -- IT COULD BE AS HIGH AS 150,000 THIS YEAR. >> SO DOUBLE WHAT I THOUGHT. >> 150,000 SO WE'RE TRIPLING AT THIS POINT. >> YEAH, BECAUSE YOU'VE GOT DEMAND IMPROVING WITH THE ETF. AND IF MONETARY POLICY EASES, WHICH WE EXPECT, THAT'S SUPPORTISH OF RISK ASSETS. BITCOIN IS HOLDING UP. THAT'S WHY I DON'T THINK IT WILL DRAW DOWN SOON IT'S BEEN RALLYING THE LAST COUPLE OF WEEKS. >> WOW. >> YOU THINK THAT'S IN THE BANK? >> THOSE ARE BIG NUMBERS I DON'T KNOW. >> ARE YOU IN THE -- LET'S GO BACK ARE YOU IN THE CAMP OF THIS IS -- >> YEAH, IT IS SOUND MONEY AND IT'S PROVING TO BE USEFUL. >> PROVING TO BE USEFUL HOW? IT'S VERY USEFUL IF YOU'RE AN INVESTOR RIGHT NOW. >> YES IT'S BEEN A GREAT STORE VALUE, A GOOD RISK ASSET. IT'S ALSO INCREDIBLY SECURE. THERE HASN'T BEEN BEEN A SINGLE FRAUDULENT EFFORT SINCE INCEPTION. I DON'T THINK ANY BANK CAN SAY THAT 60% ARE SUSPICIOUS, 0 PERCENT ON THE -- >> WHAT DID GEL SINGER SAY THE OTHER DAY? >> IT'S ONE PIECE OF SOFTWARE. I WOULD TRUST THE PROOF. >> HERE'S THE FLIP SIDE OF THAT. YOU'VE HEARD FROM THE JAMIE DIE MONS OF THE WORLD. >> DESPITE HOW GOOD YOU SAID THE BLOCKCHAIN IS TO FIND WHERE THINGS ARE, IT IS THE MEDIUM OF CHOICE FOR RANSOMWARE. I MEAN YOU CAN GO THROUGH THE LIST OF SORT OF TERRIBLE ILLEGAL BEHAVIOR PEOPLE IN THAT WORLD SEEM TO LOVE BITCOIN WHAT DOES THAT SAY ABOUT THIS? >> WELL, PIRATES WERE THE FIRST PEOPLE THAT LIKED GOLDENING SO WE KNEW GOLD WAS A GOOD STORE VALUE. BUT EQUALLY IMPORTANT -- THE DOLLAR IS USED IN MORE ILLICIT ACTIVITY. >> 99.9. >> JOE'S MADE THAT POINT BEFORE. YOU ASCRIBE NOTHING TO THE IDEA THAT BITCOIN IS A BELOVED CURRENCY FOR PEOPLE WHO LOVE TO DO NEFARIOUS THINGS. >> HERE'S A WAY TO THINK OF IT CRIMINALS DON'T TRUST ANYBODY. THEY TRUST EVERYTHING. >> IT'S LIKE SAYING YOU FOLLOW THE TECHNOLOGY THAT STARTS WITH P-O-R-N, RIGHT LIKE VIDEOTAPES AND THIS AND THAT. >> IT'S LIKE BLAMING THE OBJECT ITSELF FOR THE ANY NAIROUS BEHAVIOR WHEN IT'S HUMANS USING IT COULD YOU IMAGINE THE WORLD OF PAIN MANAGEMENT WITHOUT STRONG PAIN MEDICINE? YOU TAKE A TRUCK OR UTILITY. >> THIS IS THE DIFFERENCE. I WILL TAKE GENTZLER'S SIDE. A CAR HAS IMMENSE VALUE TO SOCIETY, ECONOMIC VALUE TO SOCIETY. >> WHY DOES IT RESONATE WITH YOU -- >> YOU COULD ARGUE STRONG I LE KNOLL HAS A VALUE -- >> IN THE HISTORY OF THE WORLD, IF 99% OF THE NEFARIOUS ACTIVITIES WERE USED IN DOLLARS, WHY DON'T YOU HAVE THE SAME NEGATIVE VIEWPOINT TOWARD THE DOLLAR >> BECAUSE IT HAS A GREAT UTILITY IN THE SAME WAY A CAR DOES. >> JUST BECAUSE YOU DON'T APPRECIATE THE BITCOIN DOESN'T MEAN OTHERS -- >> THE ONLY PEOPLE WHO APPRECIATE IT IS YOU. >> THAT'S NOT TRUE >> YOU APPRECIATE THE STORE VALUE. STORE VALUE, IT WOULD STAY ONE PRICE. >> NO, NO. GOLD WAS $300 NOT TOO LONG AGO NOW $2,000 IT'S NOT THE SAME. IT GOES UP AS YOU PRINLT MORE MONEY. >> IT TURNED OUT TO BE A GREAT INVESTMENT FOR THOSE INVESTING IN IT. I'M SAYING LONG TERM IF WE'RE ALL -- >> TOM, YOU'RE HERE. EXPLAIN HOW IT'S SOUND MONEY IT'S SOUND MONEY. >> I UNDERSTAND -- IT'S NOT THAT I DON'T UNDERSTAND CONCEPTUALLY WHAT'S GOING ON HERE. >> WHY DO YOU SAY IT HAS NO USE THEN OTHER THAN NEFARIOUS USE -- >> NO, NO. I THINK THE USE CASE IS A SPECULATIVE TOOL AS A WA

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Length: 5min 42sec (342 seconds)

Published: Wed Feb 21 2024