Crypto Bull and Co-Founder of Fundstrat Global Advisors, Thomas Lee recently stated that the “fair value of Bitcoin (BTC) is significantly higher than the current price.”
According to a note, dated Thursday, the analyst predicts Bitcoin’s fair value to be between $13,800 and $14,800 taking into account the current wallet addresses, account usage and supply factors.
“In fact, working backwards, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently.”
Among key drivers for price, Lee named Mass Adoption and Bitcoin’s acceptance as an asset class. He also noted, the fair value can reach $150,000 if BTC wallets account for 7 percent of VISA’s 4.5 Billion.
Lee has always had an optimistic outlook towards Bitcoin’s recovery. Speaking at BlockShow Asia 2018, he noted that crypto has only 50 million active wallets so far against the 254 million PayPal accounts in Q3 2018 and 4.6 billion VISA and MasterCard accounts.
Despite the recent market crash, Lee reiterated his price prediction at $15,000.