Bitcoin Could Hit $150K This Year and $500K in 5 Years Due to Improving Demand and Decreasing Supply, Says Predictive Analyst Tom Lee

• Tom Lee, head of Fundstrat Global Advisors, believes Bitcoin could reach $150,000 this year and $500,000 within 5 years due to improving demand and decreasing supply.

• Lee cites the approval of spot Bitcoin ETFs as increasing demand by making exposure easier for investors. The halving of mining rewards also decreases supply.

• Lee has a strong track record, with accurate predictions about the S&P 500 in 2023 and strong returns from his stock picking product since 2019.

• Additional demand signals include long-term holders being net buyers in Q4 2022, and increasing monthly active addresses, new addresses, and transaction counts.

• While hitting a specific target is never guaranteed, Bitcoin has created substantial wealth in the past despite extreme volatility, so a small position may be warranted for patient, risk-tolerant investors.