Tom Lee, co-founder of Fundstrat Global Advisors, told CNBC that Bitcoin could soar as high as $3 million, driven by a widening gap between demand and supply.
Speaking during a live segment, Lee said Bitcoin remains tightly linked to global liquidity trends and benefits from expectations of a dovish Federal Reserve in 2026. While the asset recently pulled back to around $104,000, he described the move as healthy consolidation.
Short-Term Target: $150K–$250K in 2025
Lee reaffirmed his year-end target of $150,000, adding that prices could reach $200,000 or even $250,000 under favorable conditions.
“The setup is strong,” Lee said, referencing increasing liquidity and limited new Bitcoin supply. “95% of Bitcoin has already been mined, but 95% of the world still doesn’t own any.”
This imbalance, he argued, sets the stage for strong long-term demand as global adoption continues.
Long-Term Outlook: Matching or Exceeding Gold
When asked about a terminal value for BTC, Lee pointed to gold’s total market value of $23 trillion. If Bitcoin were to match gold’s network value, its price could hit $1.2 million.
“But I think Bitcoin is more valuable than gold,” Lee said. “It could reach $2 million, $3 million—maybe even higher—over time.”
He compared Bitcoin’s potential scarcity to a scenario where Berkshire Hathaway had just one share in circulation. “If there’s only one share left, the value has to reflect the entire company,” he explained.
Lee emphasized that these lofty targets reflect a multi-year outlook, not an immediate forecast.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/bitcoin-could-hit-3-million-says-fundstrats-tom-lee/