Michael Saylor’s Bullish Take on Tom Lee’s $100,000 Bitcoin Price Prediction for 2024
Co-founder of MicroStrategy Michael Saylor recently posted to CNBC’s Squawk Box an interview featuring Tom Lee, co-founder and head of research at Fundstrat.
Therein, Lee was unveiling a very bullish prediction for Bitcoin’s price trajectory into the six figures by the end of the year.
This positive outlook is made within a context in which sentiments over Bitcoin are still almost sky-high, as influential figures in the crypto-sphere, like Saylor, similarly publicly reiterate what they believe is the future of Bitcoin:
it is a form of asset that nations will look towards having as part of their Treasury reserves.
Tom Lee’s Prediction of Six-Figure Bitcoin and Saylor’s Comments
Lee discussed on Squawk Box that Bitcoin will gain the position of “Treasury Reserve asset” for the United States. That would obviously help decrease the deficit in the national budget if the position is realized.
He thinks Bitcoin’s appreciating value can fill U.S. financial reserves. However, given Bitcoin’s surging stature, he feels that it might surpass all the records and touch $100,000 by the end of the year and can reach even higher levels in the subsequent years, 2026 and 2027.
He also finds himself optimistic as with less regulatory pressure on the Bitcoin, less scrutinized may attract more institutional investment and capital inflow.
According to Lee, Michael Saylor reacted saying, “Nations will adopt Bitcoin as a Treasury Reserve Asset.”
That comment is in tandem with a belief for long maintained by Saylor that Bitcoin can turn out to be the world’s store of value and an asset on which the governments will rely during uncertain times.
Bitcoin Market Performance
Bitcoin recently saw a new ATH at $77,252 and created a brief foray into the unknown before retracing to come back around to $76,500. The slight pullback is interpreted as a healthy correction in the market.
Many traders are locking in profits after the ascent of Bitcoin. In addition, blockchain analytics firm Santiment said that this price correction was an immediate shift in social sentiment.
However, even at this slight drop, Bitcoin still stands in a bull run, recording an 11.35% progression in the post-election period.
A recent cut of 25 basis points by the Federal Reserve in interest rate only helped the rally further because the loose monetary policy ushered the era where alternative assets, such as Bitcoin, were found more alluring.
Broader Bullish Sentiment Among Bitcoin Advocates
In the conversation was Samson Mow, CEO of JAN3 and loudmouth Bitcoin maximalist who believes Bitcoin will price above $80,000 soon.
Mow made a note by saying of Bitcoin’s current price that “You can still buy Bitcoin for less than $0.08M.”
Mow’s comment captures the confidence of most Bitcoin advocates that the currency’s stock supply constrain and the creeping institutional acceptance will continue to force it even higher and higher.
Why Bitcoin Is Going Up
There are several reasons for the recent Bitcoin price increase, and it is probably these that are keeping going through the rest of the year:
Post-Election Sentiment: Following the recent U.S. election, there has been significant inflow of capital into Bitcoin on the back of optimism around regulatory stability within the crypto space.
Federal Reserve’s Rate Cut: The Fed has cut its rates by 25 basis points as this has rendered Bitcoin a more attractive store of value since the traditional investments earn relatively lower returns under an accommodative monetary policy.
Declining Regulatory Overhang: As regulatory overhang is easing, institutions find it increasingly comfortable to commit funds to Bitcoin. That’s critical for the transition of Bitcoin into a mainstream Treasury asset, Lee and Saylor note.
Global Adoption Potential: According to Saylor, if even more nations add Bitcoin in the Treasury reserve asset list, that will only add to the price hike potential. As a decentralized asset with capped supply, Bitcoin seems to be one of the most appealing options for governments that would want to diversify its reserves outside of fiat currency.
What’s in Store for Bitcoin
Tom Lee’s prognosis which sees Bitcoin at $100,000 by the end of this year indicates strength in the existing market dynamics. That, he expects Bitcoin to possibly surge in 2026 and 2027 indicates long-term belief in the ability of Bitcoin to continue on its path.
Here, always, there is risk due to its volatility and regulatory landscape; however, such believers as Saylor, Lee, and Mow remain convinced of an upward curve for Bitcoin.
While Bitcoin is getting deeper, it could play an even bigger role in the global financial systems should nations declare it a reserve asset.
It would then be a significant shift from what digital assets mean and how they are used all over the world, potentially setting Bitcoin as the cornerstone of some form of financial resilience.
It is already, however, Bitcoin’s future that depends on how the market will react to the regulatory changes, institutional interest and macroeconomic trends-all pushing in the same direction.
