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Fundstrat's Tom Lee has predicted that Bitcoin will outperform gold this year during a recent podcast appearance. In fact, Lee is convinced that Bitcoin will become the best-performing asset class of the year despite its underwhelming performance in the first quarter of the year.
"Bitcoin is still our favorite idea for this year. So we think that it will be the best-performing asset class (even better than gold)," he said.
As reported by U.Today, Bitcoin surged to the $85,000 level earlier today, but it is still more than 20% away from reclaiming its previous record high. Meanwhile, gold reached a new lifetime high earlier today after greatly outperforming its digital version in the first quarter.
Tomiwabold OlajideAs reported by U.Today, Lee previously predicted that the flagship cryptocurrency "would do better than $150,000" in 2025.
Lee has been one of the prolific Bitcoin price analysts since 2018. Even though his price predictions have a rather mixed record, he remains an authoritative voice in the investment space.
He recalled that Bitcoin first came up in several discussions when he was at banking giant JPMorgan. Back then, the network value of the cryptocurrency was a mere $20 billion. Bitcoin caught his attention in 2017 after its price experienced a 10-fold increase. Fundstrat published its first report on Bitcoin when it was trading at roughly $1,000.
Vladislav Sopov
Dan Burgin