MUST WATCH - Wall Street Analyst Tommy Lee Presents The Economics of Cryptocurrencies
Millennials are the largest single generation ever in history. They will transform the crypto space from an emerging market to a real asset class.
Lee, the co-founder of Fundstrat Global Advisors, maintains his earlier price prediction of $20,000 - $25,000 by mid-2018 and $150,000 by the end of 2020. In a report issued last week, the strategist cited the increasing interest of various companies in blockchain and cryptocurrency. It read:
“The announcement by Rakuten is another example of positive developments in crypto in 2018, suggesting the large sell-off in bitcoin and others at the start of the year was an overshoot to the downside.”
Rakuten is a large Japanese e-commerce platform. According to a CNBC report, the company are planning to launch their own cryptocurrency called “Rakuten Coin”.
In addition, Lee mentions three other large corporations that are considering entering the space. For him, this, combined with the fact that institutional money is yet to arrive into cryptocurrency, will surely drive prices up.
Watch the video below
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