Thomas Lee Insists Bitcoin Will See More Upsides, Targets $150k by Year-End

In a Friday session at CNBC’s Squawk Box, Fundstrat Capital’s CIO Thomas Lee insisted that Bitcoin could still trade at six figures before the end of the year.

The CNBC contributor noted that the current bullish uptick in the market is nothing compared to what lies ahead for Bitcoin and the broader crypto market. Lee insisted that he sees “more upsides” for Bitcoin soon.

Lee Says Trump Win A Catalyst

The Fundstrat co-founder stated that Trump’s emergence as the 47th US president would catalyze Bitcoin’s upsides for the market in the near term. He pointed out that Trump has been a major factor driving Bitcoin’s uptrend, and it has not yet been priced in.

Lee stated that the impending rally would be massive as bullish economic factors like the change of financial policies and Trump’s pro-crypto stance would drive the crypto pioneering asset upwards. Notably, Trump’s pro-crypto stance has been evident from the inception of his election campaigns, as he has promised to make America the global capital of Bitcoin.

Meanwhile, the CNBC contributor expects Bitcoin to trade at six figures by the end of the year. Notably, Lee had earlier asserted that Bitcoin would trade at $150,000 by the end of 2024, noting that the price call was conservative.

Bitcoin Is A Potential Treasury Asset

Lee also noted that Bitcoin is a potential Treasury asset and could help reduce America’s growing debt. The market expert further stated that approaching US debt the Bitcoin way would be the most effective way of reducing it.

Notably, Trump agrees with this narrative, seeing Bitcoin’s potential to help combat the US’s over $35 trillion debt. In one of his numerous Bitcoin comments, the US President-elect noted that he would cut his creditors a Bitcoin check to clear the surging debt.

In the meantime, the plans to build a US Bitcoin stockpile remain fluid. Pro-crypto republican Senator Cynthia Lummis talked up the plot after Trump’s reelection, signaling that the plan was still alive.