Thomas Lee
Bitcoin Crypto Price Analysis Cryptocurrency

Price per Bitcoin Could Reach $10 million in a Decade According to Fundstat’s Tom Lee

Thomas Lee, the co-founder of fundstat global advisors, said there was fair value in betting on the price of Bitcoin to rise much higher than it currently is.

Thomas, who has many years of experience in market analysis said that Bitcoin’s fair value was between $13,800 and $14800, considering the number of active wallet addresses, usage per account and the factors influencing supply.

According to Thomas, Bitcoin’s current struggles in the market are due to a “macroeconomic meltdown” and treasury sales during initial coin offerings (ICOs).

Lee stated; “In fact, working backward, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently.”

Lee stated that key factors that would lead to the recovery of the price of Bitcoin would include; its mass adoption across many regions and it is accepted as an asset class. He proceeds to note that the price of Bitcoin could rise to as high as 150,000 per coin once BTC wallets account for visa’s 4.5 billion account holders.

Lee has always held a positive view towards Bitcoin and crypto-currency as a whole. He has also long held the firm belief that the price of Bitcoin would scale up the heights in no time at all. Lee, while addressing a crowd of enthusiasts at Block show Asia 2018, noted that crypto only has 50 million active wallets compared to 254 million active PayPal accounts in the 3rd quarter of 2018, and 4.6 billion visa and master card accounts.

According to Lee, if Bitcoin reaches anywhere close to similar active user accounts, then the price of Bitcoin could shoot to $10 million per coin in a decade.

Lee also noted that there are two types of players in the crypto markets, those who are using it and have crypto wallets, and those leaning on the speculative side of the fence.

According to a report by the Cambridge center of alternative finance, the number of verified crypto users rose by 17 million this year alone. In 2018’s first three quarters, the number of ID-verified crypto-currency users reportedly almost doubled, rising from 18 million to 35 million.

Author: Kelvin

I am a crypto enthusiast based in Nairobi Kenya, who loves investing, research writing, reading, fitness, African food, and soccer.

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I am a crypto enthusiast based in Nairobi Kenya, who loves investing, research writing, reading, fitness, African food, and soccer.
I am a crypto enthusiast based in Nairobi Kenya, who loves investing, research writing, reading, fitness, African food, and soccer.

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