Michael Saylor, co-founder of the MicroStrategy giant and a vocal Bitcoin evangelist, has shared an extract from the recent appearance Tom Lee made on CNBC’s Squawk Box show.
Fundstrat’s co-founder and head of research made a bullish Bitcoin price prediction, expecting BTC to reach a “six-figure” level this year.
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Tom Lee's bullish Bitcoin outlook and Saylor's response
Tom Lee told the CNBC show hosts that Bitcoin is “potentially a Treasury Reserve asset” for the U.S. If it is adopted in this status and if the price goes up, it can potentially help the U.S. reduce the budget deficit, Tom Lee believes.
While the regulatory overhang has currently began to reduce over the pioneer cryptocurrency, the Fundstrat’s expert strongly believes that BTC can still reach $100,000 by the end of this year and go higher in 2026, and then in 2027.
Michael Saylor reacted to that message of Lee by adding his take, which is: “Nations will adopt #Bitcoin as a Treasury Reserve Asset.”
Nations will adopt #Bitcoin as a Treasury Reserve Asset.pic.twitter.com/bWOgCTpvJN
— Michael Saylor⚡️ (@saylor) November 8, 2024
Bitcoin price mild rebound
After reaching an all-time high of $77,252, the Bitcoin price rebounded, and the asset is currently changing hands at $76,500. A recent Santiment tweet explained this drawdown by a rapid change in the social narrative. Besides, many traders have begun locking in their profits after seeing BTC reach a new historic price peak. After hitting the ATH, Bitcoin has mildly rebounded by 1%.
📊 Bitcoin's ascension to $77K has rapidly changed the social narrative. When the crowd has gotten too eager about $80K+ BTC, we've seen prices retrace. Use the crowd's FOMO and FUD following an all-time high to your advantage with this updating chart. 👇https://t.co/9Njjzi46Tp pic.twitter.com/77m7hUrux8
— Santiment (@santimentfeed) November 8, 2024
In total, since Wednesday and until the new price record on Friday, Bitcoin has seen a staggering 11.35% post-election surge fueled by another interest rate cut of 25 basis points performed by the Fed Reserve.
Bitcoin maximalist and JAN3 boss Samson Mow believes that Bitcoin will soon surpass the $80,000 mark as he tweeted: “You can still buy Bitcoin for less than $0.08M.”
