Bitcoin is back in the spotlight as institutional interest continues to rise, according to Tom Lee, Fundstrat’s chief investment officer and Bitmine’s chairman. Given the asset’s strong long-term performance, Bitcoin is entering another critical phase, with a cohort of institutional investors watching it closely. Lee revealed the development.
In an interview aired today on Wu Blockchain, the Bitmine chair said VCs (venture capital firms) regret not investing in Bitcoin earlier. Lee said that during the TOKEN2049 Singapore event (October 6 to 7), he had dinner with some VC friends he met ten years ago, when he had just started researching Bitcoin. He said Bitcoin rose from under $1,000 to $80,000 over that period, delivering about an 80x return.
In their casual conversations, the VC friends admitted that although their venture returns had been okay, they wished they had invested in Bitcoin. They acknowledged the fact that they could have earned much greater returns (via Bitcoin) than from their venture investments, Lee recounted.
The renowned crypto investor not only reaffirmed its strong bullish stance on Bitcoin, but also disclosed growing appetite among institutions, including VCs, who wished to have built positions on BTC earlier. He recalled his VC colleagues’ hesitation when Bitcoin traded below $1,000 10 years ago. In a reflective tone, he shared the regrets his VC associates felt for not investing in BTC. He said that even with Bitcoin at $82,000, venture capitalists regret not buying the asset earlier.
As a long-term investor and crypto value supporter, Tom Lee believes in the power of cryptocurrency investment. He is convinced that even a small investment could yield substantial returns in the future, encouraging investors to seize the opportunity to invest whatever they can afford.
In July, he revealed that 95% of investors still have zero Bitcoin exposure. According to him, if you buy Bitcoin today, you’re still early. He encourages investors to maximize their exposure to Bitcoin, Ethereum, and Solana during this cycle, as he believes these Layer-1 networks will gain significant value.
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