Prominent financial market commentator Tom Lee doubled down on his $250,000 price target for Bitcoin (CRYPTO: BTC) in 2025 on Wednesday, thanks to a friendlier White House.
What happened: Lee, managing partner and head of research at Fundstrat Global Advisors, stated in a CNBC interview that the leading cryptocurrency faced numerous regulatory pressures in the last few years, but the new White House is "embracing" digital assets.
"A new SEC Chair, a new FTC Chair, a new commerce secretary—I think these are being viewed as pro-business reviving animal spirits, but I think a good proxy is watching Bitcoin," Lee said.
See Also: Ark Invest's Cathie Wood Hails Bitcoin's $100K Climb As A 'Big Deal,' Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency
When asked about Bitcoin's price target in 2025, the analyst replied that it would follow the halving cycle, implying a level somewhere around $250,000.
"On top of that, we have a Trump put because Bitcoin is potentially a strategic reserve asset for the U.S.," Lee said.
Why It Matters: Lee's latest remark reiterated his earlier projections of the marquee digital asset hitting $250,000 by 2025-end.
He also accurately called Bitcoin's breach above $100,000 last week.
As the leading cryptocurrency eventually hit the historic milestone, Lee said it could be a precursor to a bullish stock market, setting a target of 6,300 for the S&P 500 by year-end.
Price Action: At the time of writing, Bitcoin was exchanging hands at $101,029.29, up 4% in the last 24 hours, according to data from Benzinga Pro.
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