When Tom Lee, founder of Fundstrat, published his first report on BTC 5 years ago, he predicted that the cryptocurrency could be worth between $15,000 and $50,000 by 2022, CNBC writes.

BTC is currently in the upper middle part of that range, but Lee remains optimistic about the future of bitcoin and the cryptocurrency sector as a whole, especially in the face of rising interest rates.

“It looks like interest rates could reverse a nearly 30-year decline,” the expert told CNBC. Shares of technology companies and other risky growth assets have been hurt by the rate hike this year and continue to fall amid investor concerns about plans for further rate hikes by the U.S. Federal Reserve.

The question we’re asking ourselves is where that $60 trillion in revenue will go, said Lee, who calculated that amount as the possible amount of speculation in the U.S. market.

“Obviously,

When Tom Lee, founder of Fundstrat, published his first report on BTC 5 years ago, he predicted that the cryptocurrency could be worth between $15,000 and $50,000 by 2022, CNBC writes.

BTC is currently in the upper middle part of that range, but Lee remains optimistic about the future of bitcoin and the cryptocurrency sector as a whole, especially in the face of rising interest rates.

“It looks like the interest rate could reverse nearly 30 years of decline,” the expert told CNBC. Technology stocks and other risky growth assets have been hurt by rate hikes this year and continue to fall amid investor concerns over plans for further rate hikes by the U.S. Federal Reserve.

The question we’re asking ourselves is where those $60 trillion in revenue will go, said Lee, who calculated that amount as a possible amount of speculation in the U.S. market.

“Obviously they will go to stocks like FAANGs, but I think a lot of the speculative capital originally earmarked for stocks could be directed to cryptocurrencies,” he added.

While there is plenty of room for experimentation, trying, learning and possibly failing when it comes to NFT, meta-universe and other new uses for cryptocurrency, securing the bitcoin network is crucial, Lee acknowledges.

“The biggest disadvantage of cryptocurrency will be the open vulnerability of bitcoin because it is the most important blockchain and there is not the most value stored in it,” the expert summarized.

that they will go into stocks like FAANG, but I think a lot of the speculative capital that was originally intended for stocks could be directed to cryptocurrencies,” he added.

While there is plenty of room for experimentation, trying, learning and possibly failure when it comes to NFT, meta-universe and other new uses for cryptocurrency, securing the bitcoin network is crucial, Lee acknowledges.

“The biggest disadvantage of cryptocurrency will be the open vulnerability of bitcoin because it is the most important blockchain and there is no blockchain that holds the most value,” the expert summarized.