Fundstrat's Tom Lee Calls Bitcoin A 'Swiss Army Knife,' Predicts It Will Hit $1.5 Million Per Coin Within A Decade - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

Tom Lee, head of research at Fundstrat, recently made a bold prediction about Bitcoin‘s BTC/USD potential to reach a valuation comparable to gold, as shared by The Moon Show on X.

What Happened: In a post on X on Friday, The Moon Show referenced a statement by Lee, suggesting that Bitcoin’s network value could eventually match that of gold. According to Lee, Bitcoin, like a Swiss Army knife, is versatile. It's a risk-on asset, thriving in bullish markets, yet its network value grows as adoption surges, driving price increases.

More than speculation, Bitcoin's strength lies in its decentralized network, making it a compelling safe-haven asset. Over the next decade, Bitcoin could rival gold's $23 trillion market cap, potentially reaching $1.5 million per coin.

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Why It Matters: Bitcoin’s dominance in the cryptocurrency market is undeniable, representing 62.2% of the total crypto market capitalization, which currently stands at $3.33 trillion. Bitcoin’s recent surge to $104,000 has been driven primarily by spot accumulation and a notable reduction in sell-side pressure, as per a Glassnode’s market report.

However, Bitcoin’s path to a higher valuation is not without obstacles. Traders are bracing for a short-term slowdown before the next big move, as Bitcoin continues to hover near key resistance levels.

Meanwhile, Anthony Scaramucci, founder and CEO of SkyBridge Capital feels that Bitcoin’s acceptance as a full-fledged asset class might only materialize once it hits $500,000, according to.