Tom Lee, co-founder of Fundstrat Global Advisors, is confident that by the end of this year, the price of bitcoin will increase significantly. However, he does not even rule out updating the historical maximum.
“I think that someone who holds 1-2% of their capital in bitcoin to hedge multiple risks makes a smart bet,” he said in an interview with Fox Business .
Lee pointed to impressive growth this year – from around $ 3,000 to $ 12,000, and stressed that bitcoin does not correlate with the stock market. Thus, in his opinion, the first cryptocurrency is necessary for the effective diversification of the investment portfolio, as BlockchainJournal wrote about earlier.
Why bitcoin should be in the portfolio of every investor
The analyst also added that recently, bitcoin has shown itself to be a “real safe haven” in times of instability. Over the past week, the price has been active significantly higher than the average market in Argentina (amid the collapse of the peso after the primaries) and Hong Kong (due to riots).
Recall, earlier, Lee said that Bitcoin will continue the rally against the backdrop of the US-China trade war.
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