Renowned economist Tom Lee presented his updated Bitcoin price forecast: "This year 250,000 Dollar, but in the long term..."

Fundstrat co-founder and chief investment officer Tom Lee made notable assessments about the overall state of the markets, inflation, interest rates, and especially Bitcoin during his appearance on CNBC's "Squawk Box" program.

While Lee maintains the year-end target for the S&P 500 at 6,600 points, the most notable comments were regarding Bitcoin.

Tom Lee described the current movement of Bitcoin as a "consolidation," stating that the market has already reacted to the increase in global liquidity and the expectation of a more dovish FED in 2025. Lee, who said that this situation creates strong support for BTC, stated, "Bitcoin is a liquidity-sensitive asset. Liquidity is currently increasing in the world, and this is an upward signal for Bitcoin."

Lee also made the striking statement by referring to Bitwise's statistics:

"95% of the Bitcoin supply has already been mined. However, 95% of the world’s population does not yet own BTC. This creates a significant demand-supply imbalance for the next 10 years."

Lee stated that Bitcoin could reach levels between 150,000 and 250,000 dollars within this year.

Tom Lee believes that Bitcoin is a more valuable asset compared to gold. The market value of gold is around 23 trillion dollars. If this value were to be reflected in Bitcoin, Lee estimates that a single Bitcoin could reach 1.2 million dollars, going further to state the following:

"I think BTC could rise to 2 million or even 3 million dollars in the long term. It might even go higher."

*It is not investment advice.

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