tl;dr
Tom Lee of Fundstrat predicts that smaller altcoins will soon outperform larger cryptocurrencies. He recommends Ethereum and Solana as alternatives to Bitcoin, anticipating growth in the altcoin market. Lee also suggests a potential 150% increase in Bitcoin's value, citing the new U.S. administratio...
Tom Lee of Fundstrat predicts that smaller altcoins will soon outperform larger cryptocurrencies. He recommends Ethereum and Solana as alternatives to Bitcoin, anticipating growth in the altcoin market.
Lee also suggests a potential 150% increase in Bitcoin's value, citing the new U.S. administration's pro-Bitcoin stance as a contributing factor. At the time of the interview, Bitcoin is trading at $97,521.
During an interview on the Wealthion podcast with SkyBridge Capital founder Anthony Scaramucci, Lee stated that his firm has begun recommending Ethereum (ETH) and Solana (SOL) to clients as a way to move out of the risk curve from Bitcoin (BTC).
Lee, head of research at Fundstrat, highlighted the potential for investors holding altcoins to gain 'alpha' as the market cycle develops.
He said, "We’ve recommended to our clients that if they didn’t want to be Bitcoin-only, that they could look at Bitcoin, Ethereum and Solana because we’ve put those largely in the same category as sort of core cryptos."
Lee also expressed optimism about the upcoming 'altseason', suggesting that experts in the crypto market could generate alpha as many altcoins are expected to perform well.
In the same interview, Lee forecasted a further 150% move for Bitcoin, envisioning a possible price of over $250,000 within the next twelve months. He attributed this anticipated growth to the new U.S. administration's pro-Bitcoin platform and the potential for the U.S. government to legitimize and hold a significant amount of Bitcoin.
Lee stated, "If the US government, as they intend, ultimately gets to a million Bitcoin, it will be the largest Bitcoin holder in the world and they exert an enormous positive influence on legitimizing Bitcoin."
At the time of writing, Bitcoin is trading for $97,521.