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Bitcoin could be in for a wild ride before the year wraps up—at least if you ask Tom Lee. The Fundstrat co-founder and head of research believes Bitcoin might climb to as high as $250,000 in the coming months, supported by rising interest in crypto and comparisons to gold.
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In a recent CNBC interview, Lee explained that Bitcoin’s valuation still has room to grow when compared to the gold market. “I think the $200,000 to $250,000 range for Bitcoin still makes sense, because that would still only value it at 25% of the size of the gold market,” he said. He added that Bitcoin could eventually be worth over $1 million per coin. “That could happen in the next few years, but maybe pricing in 25% of that—especially with the Genius Act—makes sense.”
Lee’s outlook leans on the idea of Bitcoin as digital gold—a concept that many long-term crypto investors support. But his forecast is not just about Bitcoin. He also shared views on the growing importance of stablecoins and how they might influence the crypto ecosystem, particularly Ethereum.
“Stablecoins are the ChatGPT moment for crypto,” Lee said, pointing out that both consumers and businesses are adopting them quickly. He mentioned that financial giants like JPMorgan and Citi are starting to embrace the stablecoin space. According to Lee, the Genius Act has played a role in making this shift happen.
When asked how to position for that trend, he acknowledged Circle’s role but pointed more strongly toward Ethereum. “Ethereum is really the way to play stablecoins, because the majority of stablecoins are created on Ethereum,” he explained. Lee noted that stablecoin activity now accounts for over 30% of Ethereum’s network fees.
He also referenced investor Scott Benson, who believes the stablecoin market is approaching a $4 trillion valuation. If that figure continues to climb, Ethereum could see major growth as a result.