- Lee noted that mass adoption is critical to Bitcoin’s upward correction.
- Tom Lee also see Bitcoin’s fair value at $150,000 per coin.
The founder of Fundstrat, a leading financial advisory firm Thomas Lee reckoned that the “fair value of Bitcoin (BTC) is significantly higher than the current price,” in December 2017.
The top industry analyst said yesterday that Bitcoin’s fair value is somewhere between $13,800 and $14,800. He made his comments taking into account the number of active wallet addresses, the usability per every account as well as other factors that influence the supply. Lee said:
“In fact, working backwards, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently.”
Once again Lee noted that mass adoption is critical to BTC’s upward correction and that of other digital assets. He added that Bitcoin’s fair value is likely to hit $150,000. This value will be achievable as long as Bitcoin wallets start accounting for 7% of Visa’s 4.5 billion account holders.