VanEck

Fundstrat’s Tom Lee says those who buy Bitcoin around $90,000 now won’t “lose money” over the long term.

Despite a warning from analysts that Bitcoin could fall under $70,000, the asset’s current $90,000 price tag remains a “good entry point” for long-term investors, according to Fundstrat Capital’s chief investment officer. 

“I don’t think anyone is going to lose money buying here at $90,000. If they’re trying to time this, maybe they get lucky, and it goes to $70,000,” Tom Lee said in a Jan. 13 interview with CNBC, adding Bitcoin (BTC) will be “one of the best-performing assets of the year.”

At the time of the interview, Bitcoin was trading at $91,662. Lee said that while Bitcoin may be down 15% from its all-time high, this is a “pretty normal correction” for a “hyper-volatile asset.” 

Lee said his firm sees one scenario where Bitcoin falls back to the $70,000 zone before rallying, though another scenario could see Bitcoin fall as low as the $50,000 range. 

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