“This can be a generational concern,” Lee stated on “Final Name” with CNBC’s Brian Sullivan, as Millennials and Gen Zers are open to embracing cryptocurrencies.
Sullivan informed monetary analysts and strategists. “I’ve by no means come throughout an funding product that’s so polarizing…some name it pretend, a rip-off, a joke, and nugatory. Do you know? Why is Bitcoin so polarizing? Do you assume that?”
“It is a generational concern,” Lee replied.
Bitcoin era hole
“In cryptocurrencies, I feel they check with legacy monetary actors as boomers, as a result of Bitcoin has turn out to be widespread not solely with the youthful era, each Millennials and Gen Z, but in addition with non-Bitcoin It is helpful for individuals who haven’t got a checking account outdoors of the U.S. as a result of it is truly adopted and utilized by individuals.” ” lee said.
A Coinbase research discovered that in This fall 2023, 38% of Millennials and Gen Z accepted cryptocurrencies, blockchain, and Web3. In the meantime, 26% of child boomers share youthful generations’ beliefs about cryptocurrencies.
In 2020, tech enterprise capitalist Tim Draper warned millennials that they wanted to spend money on Bitcoin to safe their monetary future. In response to CNBC, as of December 2021, 83% of millennial billionaires owned cryptocurrencies, and 53% of them had greater than half of their belongings saved in cryptocurrencies.
Lee additionally talked about the distinction in worldviews, saying, “Bitcoin is bootstrapped. You already know there’s the Genesis block. It did not develop within the conventional monetary system. So earlier than people discovered the product, I feel that is anathema to people who find themselves used to organizations gaining access to merchandise.”
Tom Lee’s Bitcoin Value Prediction: $150,000
However what’s stunning is how far Lee predicts Millennial and Gen Z traders will push Bitcoin costs this 12 months. In fact, that may require assist from boomer traders.
“The highs of three years in the past had been from a time when Bitcoin’s fundamentals and the structural help surrounding it weren’t as robust as they’re at the moment,” Lee stated.
“So I feel it is solely a matter of time earlier than the all-time excessive collapses, and I feel Bitcoin sort of strikes that bee line again into the long-term development line,” Fundstrat analysts predicted. did. 150,000 by the top of the 12 months, and naturally a lot bigger numbers sooner or later. ”
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