Tom Lee explains what will bring the price of Bitcoin to 150,000 dollars

Speaking on “Last Call” with CNBC's Brian Sullivan, Lee said “it's a generational issue” for millennials and Gen Z, who are more open to accepting cryptocurrency.

Sullivan told The Financial Analyst and Strategist, “I've never come across an investment tool that's been so polarizing … There are people who say it's fake, it's a scam, it's a joke, it's not worth it. do you know? Why do you think Bitcoin is so polarizing?”

“It's a generational thing,” Lee replied.

Bitcoin generation gap

I think in crypto they call the legacy financial people, like the boomers, because you know, you know, you know, Bitcoin is really being accepted and used by both young people, millennials and Gen Z, as well as people outside of the US Bitcoin. It's useful for the unbanked outside the United States,” Lee said.

According to a Coinbase study, 38% of Millennials and GenZ will adopt cryptocurrencies, blockchain and Web3 in Q4 2023. Meanwhile, 26% of Baby Boomers share younger generations' beliefs about crypto.

High-tech industry venture capitalist Tim Draper has warned millennials in 2020 that they should invest in Bitcoin to secure their financial future. According to CNBC, by December 2021, 83% of millennial millionaires owned cryptocurrency, and 53% invested half or more of their wealth in it.

Lee cited a difference in worldview, saying, “Bitcoin is bootstrapped. You know it has a genesis block. It did not thrive in the traditional financial system. So I think it's a shame for them that they are used to getting it institutionally before individuals get it first.

Tom Lee's Bitcoin Price Prediction: $150K

But what's surprising is how much Lee predicts millennials and GenZ investors will push Bitcoin prices this year. That is, with some help from Boomer investors, of course.

“The old high of three years ago was when the fundamentals of Bitcoin and the structural support around it were not as strong as they are today,” Lee said.

“So I think it's only a matter of time before this all-time high fails and Bitcoin kind of makes that bee line back to its long-term trend,” Fundstrat's analyst predicted, “and that's probably $82,000, you know, right now.” , 150,000 dollars before the year, and of course many more and more numbers in the future.