Tom Lee: The crypto market has 200 times its current potential, and the best times are yet to come
Jinse Finance reported, citing CNBC, that Tom Lee, co-founder of Fundstrat and chairman of BitMine, stated in an interview: "The best times in the cryptocurrency sector have yet to come. Currently, there are only 4 million bitcoin wallets holding more than $10,000 worth of BTC, while globally there are 900 million retirement and brokerage accounts, each with about $10,000. This means the market potential for cryptocurrency is 200 times what it is now. I think there were indeed some concerns about quantum computing in the past, and there was also a large-scale deleveraging event on October 11, but from a fundamental perspective, this year is ending at a very high level. The US government has already passed legislation and regulations favorable to cryptocurrency, and Wall Street has shown strong interest in building financial products on the blockchain, so the future direction and outlook are very clear, with high visibility, but token prices remain uncertain."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
IM Cannabis prices US$1.31 million registered direct share offering at US$2 per share
The inflation bill has arrived, and Wall Street is starting to discount the "profit feast" of American companies.
Wall Street analysts have lowered their US stock earnings forecasts for the first time in 23 weeks, ending the longest streak of upward revisions since September 2021. High inflation and rising energy costs are squeezing profit margins in sectors such as consumer, raw materials, and finance. The combination of pressure on corporate earnings (the numerator) and rising discount rates (the denominator) is exposing US stocks to significant valuation adjustment risks.
Crypto prices
More
