Tom Lee: I want to be clear, bitcoin is going to $25,000 by year end
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Bitcoin bull Tom Lee, Fundstrat, still believes the cryptocurrency will hit $25K by the end of this year. With CNBC's Melissa Lee and the Fast Money traders, Pete Najarian, Steve Grasso, Karen Finerman and Tim Seymour.
A Fundstrat Global Advisors, Tom Lee, explain his bull case for Bitcoin.
Here in this video the FundStrat Global Advisors uses a different method to come up with his long-term price target for Bitcoin. According to Mr. Lee it is conservative to estimate that bitcoin and other cryptocurrencies would represent 5% of the money parked in gold. Based on that assumptions this would value bitcoin at $25,000 by 2022.
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Tom has been bullish on BTC despite its latest volatility. If you are a hodl, you will learn to chill and relax.