Fundstat’s Tom Lee Says Fair Value of Bitcoin to Reach $150K Per Coin

[Nikko]

Cryptocurrency bull and co-founder of Fundstrat Global Advisors Thomas Lee said that the “fair value of Bitcoin (BTC) is significantly higher than the current price,” Bloomberg reported on Dec. 13.
In a note delivered on Thursday, the veteran market analyst reportedly said that Bitcoin’s fair value is between $13,800 and $14,800, considering the number of active wallet addresses, usage per account and factors influencing supply. Lee attributed the divergence to last year’s meteoric rise, a macroeconomic “meltdown” and treasury sales during initial coin offerings (ICOs). Lee stated:
“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.”
Among key drivers that would drive the value of BTC upward, Lee named mass adoption of Bitcoin and its acceptance as an asset class. He also noted that the fair value of the leading cryptocurrency would reach $150,000 per coin, once BTC wallets account for 7 percent of Visa’s 4.5 billion account holders.

Readmore: https://cointelegraph.com/news/fundstats-tom-lee-says-fair-value-of-bitcoin-to-reach-150k-per-coin