Tom Lee: “I think bitcoin (BTC) will easily break its all-time highs”

Number of unique daily bitcoin (BTC) wallet addresses reaches 1 million

The eternal bitcoin bull has made itself heard again. During an interview with CNBC on June 18, the co-founder of Fundstrat Global Advisors, Tom Lee, emphasized once again that he expects bitcoin (BTC) to rise much further.

During the interview, Lee discussed the new stablecoin from Facebook, Libra , among other things. For him, this is clear proof that mainstream companies are indeed interested in cryptocurrencies.

When asked if the banks are so happy with Libra, and whether they will support the stablecoin in the future, Lee said:

One thing to keep in mind: the annual revenue per user for Facebook is probably $ 50 […], which may be a bit high. But an average bank generates nearly $ 1,000 per customer, so Facebook could turn this income 20 times higher if they also offer banking services. […] I understand why banks are not really enthusiastic about this.

Earlier today on BitzArena it could be read that Libra receives a lot of criticism from politicians in Europe and the United States. For example, the French Finance Minister said that “it is out of the question for Libra to become a sovereign currency.” In addition, Maxine Waters, chairman of the House Financial Services Committee, demands that Facebook immediately stop Libra from developing.

Finally, Lee also briefly addressed his expectations regarding the bitcoin price during the interview. Lee notes that bitcoin traded only 4% of its history above $ 9,000. He is still bullish:

I think bitcoin will easily break its all-time highs.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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