Fundstrat founder Tom Lee told CNBC in an interview that bitcoin's (EXANTE: Bitcoin) price will rise up to $ 25,000 if the number of its users doubles. The analyst believes that the number of bitcoin users will reach 1 million by 2022.
“Cryptocurrencies are network value assets, meaning the more people that hold it the greater the value... and to go to $25,000 you essentially need a 4x rise," said the analyst.
The analyst highlights that the price of the largest by market cap cryptocurrency will rise in the same way as the value of large technology companies. Lee compared bitcoin with shares of Facebook, Amazon, Apple and Google, whose price grew as their popularity increased.
Previously iHodl reported that the Head of a SEC-registered investment adviser Morgan Creek Capital, Mark Yusko, urged to sell Amazon stocks and buy at least one percent of bitcoin.
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