According to a financial research boutique’s chief investment officer, Bitcoin (BTC) could potentially face a supply shock once it surpasses the $100,000 price level. In a recent interview with CNBC, Tom Lee from Fundstrat points out that Bitcoin’s scarcity is becoming a concern for crypto exchanges.
Lee explains that the diminishing supply of BTC available for sale will become noticeable once Bitcoin breaks through the $100,000 mark. He suggests that some entities, including exchanges, may be hesitant about Bitcoin surpassing this level due to the limited supply of Bitcoin available over the counter.
“I think some of this could be – there’s a lot of folks who don’t want Bitcoin over $100,000 and some of it may be the exchanges themselves [that] are concerned, because there is a pretty low supply of Bitcoin available over the counter.”
“So you have a supply shortage, and if Bitcoin makes a move above $100,000, I think there would be a big chase. So I’m still confident Bitcoin’s going to close much higher before year-end… Well above $100,000 before year-end. It’s just a matter of time.”
In a recent interview with SkyBridge Capital founder Anthony Scaramucci, Lee shared his 12-month outlook for BTC. He believes that Bitcoin could potentially experience up to 150% gains from its current levels within a year.
“Over the next twelve months, I think something over $250,000 is possible, but maybe highly probable based on just following this price cycle.”
As of the time of writing, Bitcoin is currently trading at $95,844.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
