Fundstrat’s Tom Lee says digital assets are likely approaching the point where smaller altcoins start to outpace larger cryptocurrencies.
In a new interview on the Wealthion podcast with SkyBridge Capital founder Anthony Scaramucci, Lee says his company has already started recommending Ethereum (ETH) and Solana (SOL) to clients as a way to get out of Bitcoin’s (BTC) risk curve ) to come.
Lee, head of research at Fundstrat, says investors who own altcoins can have some “alpha” as the market cycle evolves.
“The answer is yes. We’ve recommended to our clients that if they don’t want to just use Bitcoin, they can look at Bitcoin, Ethereum, and Solana, as we’ve largely put these in the same category as sort of core cryptos.
I think we are also entering the altseason. Next year I think the crypto market could broaden and this is where those who are really experts in crypto… will actually have some alpha because that’s actually when a lot of altcoins could do really well.
I I think the stronger Bitcoin is, the stronger the ecosystem becomes and so many of these utility tokens and things that are tokenizing are really starting to have great expected value.”
In the same interview, Lee said that a further 150% increase for Bitcoin, on top of already large gains, is very likely.
“Over the next twelve months, I think something over $250,000 is possible, but perhaps very likely based on following this price cycle.
The second reason why I think Bitcoin may have more upside than that is because the new government has been running on a pro-Bitcoin platform. would be the possible price scenarios for Bitcoin, because if the US government, as intended, eventually reaches one million Bitcoin, they will be the largest Bitcoin holder in the world and they exert a huge positive influence on the legitimization of Bitcoin.
I would add… It’s almost like taking a playbook from MicroStrategy, because MicroStrategy has proven that using Bitcoin as a balance sheet asset has really created a lot of value for MicroStrategy shareholders.”
At the time of writing, Bitcoin is trading at $97,521.
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