Fundstrat’s Tom Lee says that Bitcoin is still in its early days of adoption, comparing the current level of BTC use to the Internet of 1996.
In a new interview posted on the Fundstrat YouTube channel, Lee says that Bitcoin adoption is going to expand massively, and predicts banks will even start holding the flagship crypto asset.
“95% of investors have zero Bitcoin exposure. So you’re still way ahead if you’re buying Bitcoin today. If you look at Bitcoin wallets, comparing it to the Internet, we’re back to 1996 levels. The Internet went exponential from 1996. So it’s still the earliest days.
I think Bitcoin is very useful, because in the future we’re not going to be able to trust anything. There’s nothing secure anymore. We can sample your voice… You’ll never know what’s true anymore. You need to be able to trust a system. The Bitcoin blockchain is the most trusted blockchain, and that’s why the United States wants to have a million Bitcoin, US companies are buying Bitcoin [and] banks will soon carry Bitcoin as collateral.”
Bitcoin is trading for $108,845 at time of writing, flat on the day.
Lee also says that Ethereum is likely to surge in value due to the increasing popularity of stablecoins, which mostly operate over the ETH network.
“Stablecoins run on Ethereum. As stablecoins explode…Ethereum is the backbone for stablecoins. So I think Ethereum is going to make a big comeback.”
Ethereum is trading for $2,608 at time of writing, up 2.9% in the last 24 hours.
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