In an interview with Fox Business Monday, Michael Lee, founder of investment management company Michael Lee Strategy, shared his outlook for bitcoin and said the best days of the asset are definitely ahead of it.
Lee was full of optimism, expecting the largest cryptocurrency by market capitalization to make new all-time highs. Moreover, he added it will be a long time “before we see any sort of taper or any sort of restrictive policy from the Fed” or from other central banks worldwide.
Indeed bitcoin is starting to see better days, even peaking at more than $40,000 for the first time in six weeks. It has since experienced price correction, trading at $37,093 according to tracking from CoinGecko.
Comments on bitcoin price
When he talked about the price of bitcoin reaching $60,000 earlier this year, Lee said he thinks it was just a side effect of endless money printing that’s going on.
Speaking about the rally made by the cryptocurrency last Monday, Lee readily dismissed the theory that the movement was a result of a rumor that Amazon may be accepting bitcoin and other cryptocurrencies for payments.
The speculation resulted from a job posting made by the e-commerce giant last week, seeking a digital currency and blockchain lead.
A proud bitcoin owner
Lee admitted he is a proud holder of bitcoin and he believes that it will take a long time for any kind of restrictive policy that encompasses the asset to come and disrupt its natural flow.
He said this is one of the reasons why he thinks that the asset will go on to attain new all-time highs. It may not happen within the next few months, but it will definitely come, he said.
After all, Lee is optimistic the best days of bitcoin are definitely ahead — and not behind it.
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