Tom Lee Predicts $125,000 Bitcoin in 2021 Despite Tesla's U-Turn

Alex Dovbnya

Permabull Tom Lee has increased his year-end Bitcoin target despite Tesla's snub

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Sun, 16/05/2021 - 18:37

Tom Lee Predicts $125,000 Bitcoin in 2021 Despite Tesla's U-Turn

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Fundstrat’s Tom Lee remains bullish on Bitcoin despite market participants becoming extremely fearful following Tesla’s about-face.

In fact, the famed permabull told Business Insider about increasing his year-end Bitcoin target to $125,000 to $100,00.

Sun, 05/16/2021 - 18:02

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Tesla no longer accepting Bitcoin and Elon Musk criticizing its carbon footprint will encourage the industry to focus on adopting green energy solutions, according to Lee.

It is probably better to view it as a call to action for the bitcoin industry to focus on renewables or more efficient ways to provide proof of work.

Lee also believes that more companies will now be able to embrace “green” cryptocurrencies.

Bitcoin is trading at $46,974 at the time of writing this article.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.