Fundstrat’s Tom Lee: Bitcoin Is A Great Safe Haven Asset, Can Reach New All-Time Highs This Year
Tom Lee, one of the senior analysts of Fundstrat Global Advisors, has recently affirmed that Bitcoin is the “genuine safe haven” asset during a recent interview for Fox Business.
According to him, whenever there is political turmoil, crypto prices tend to go up a lot. This happens because people are trying to protect their assets from devaluation, so they use Bitcoin. The premium in markets such as Hong Kong right now is proof of that.
Bitcoin Is Good For A Diverse Portfolio
The investor also affirmed that BTC has been doing great this year. After the bear market, the asset was worth only over $3,000 USD and now it has surpassed $10,000 USD and stayed there. The future is set to be even better, he believes, and the all-time high can be broken before the end of the year.
Lee affirmed that BTC is a great strategy for diversification mainly because it is not really correlated with the rest of the market, so it does well when the traditional market is not doing well.
He believes that investing at least 1 to 2% of your portfolio in BTC is the best bet for times such as the one we are in.
The crypto community surely wants Lee to be right. The market was very popular when prices were going up a few months ago and most people still believe that BTC will rise more and take the whole altcoin market together to the moon.