Tim Draper says Bitcoin is going to $250k, Tom Lee agrees?
For those of you that follow Fast Money on CNBC, you will likely be very familiar with how this segment on bitcoin went down.
On Fast Money last week, the host presented Tim Draper's $250k Bitcoin call to the group for them to debate the absurdity or realism of it.
Brian Kelly was first up to argue the call.
Surprisingly, he actually supported it.
Not saying that he thinks Bitcoin will actually get to those levels, but saying that if bitcoin just keeps performing like it has since its inception, the charts point to $250k right around the same time that Draper is calling for.
Hmm...
Not only that but he mentioned that at $250k, bitcoin would have the same market cap as 50% of the gold market.
Which, as you have likely heard by now, many consider bitcoin digital gold, so eventually taking 50% of the current gold market actually makes a lot of sense.
None of this was much of a surprise...
Now for the surprise...
The same question was kicked to the other traders on the show, and eventually to Tom Lee, who was a special guest on the segment.
And here is where it got interesting...
Lee said that he wasn't sure if bitcoin could get to $250k within the next 2 years like Draper is saying, but....
And this is a big BUT...
Lee added (on his own account) that if we are talking about something like 5 years (instead of 2 years) he could see $250k.
Not $25k, or $50k, but $250k within the next 5 years or so!
(Pay attention to the 2:20 mark)
Say what?!
Not only did two of the Fast Money panelist not say the prediction by Draper was crazy, but both said they could actually see it happening, it may just take 5 years instead of 2.
What's more...
Not a single one of the panelists laughed at the prediction.
They all basically said, given what we have seen with bitcoin, and what we know about bitcoin, we aren't going to rule any price prediction out.
Times sure have changed when just a few years ago anytime bitcoin came up on the show it was mostly laughed at.
Not any more...
Stay informed my friends.
Video Source:
-Doc
