Bitcoin is an Asset Class for Young People

December 21, 2017

Bitcoin is an Asset Class for Young People

A financial strategist and co-founder of Fundstrat company Tom Lee, who repeatedly predicted the growth of the cryptocurrency rate, believes that Bitcoin is a legitimate asset class suitable for the younger generation.

"I believe that using Bitcoin as a store of value is logical. In my opinion, Bitcoin's advantage is that it does not correlate with stocks, bonds, and gold. It is diversified," Lee said on CNBC.

According to Lee, Bitcoin's recognition as an investment tool is no different from the fact that people were interested in gold in the past, and the "baby boom" generation actively invested in the stock market in the 1990s.

"American millenials are the driving force behind acceptance and recognition of Bitcoin, blockchain technology, and other types of digital business as a new asset class," Lee said.

Earlier, he predicted that Bitcoin's price would reach $8,000 in mid-2018, and after the cryptocurrency reached this mark he predicted a new price of $11,500. As a result, this forecast was not optimistic enough, and Bitcoin overcame this level before the end of 2017.

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