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Tom Lee: Bitcoin at or above $25,000 on Sep 14, 2022

Tom Lee's prediction that Bitcoin would be at or above $25,000 on September 14, 2022 did not come true. The close on the deadline decided this call: Bitcoin closed at $20,228 on September 14, 2022, the deadline, 19% below the target. Tom Lee made the call on CNBC on September 14, 2017, when Bitcoin was at $3,855. The target needed a 548% rise in five years.

Updated

What was said

Photo of Tom Lee
Tom Lee

Head of Research, Fundstrat Global Advisors; Chairman, Bitmine Immersion Technologies

CNBC, Sep 14, 2017SourceArchive

8 predictions · 2 hit · 4 missed · 2 open

Photo: Xuthoria, CC BY-SA 4.0

"It's not worth it to look at bitcoin two months, two weeks ahead," Lee argued, saying he still believes each bitcoin will be worth $25,000 in five years or about 600 percent higher than current levels.

Lee said bitcoin should be viewed as a store of value, comparing it to gold in the 1980s when some investors did not trust dollars. He argued it is not useful to look at bitcoin weeks or months ahead and that it cannot be in a bubble because few people own it, citing data of about 300,000 holders of at least $5,000 of bitcoin. He attributed recent selling to China's crackdown on bitcoin exchanges.

How we checked this

MissedDeadline

Price when said
$3,855 closeprice data
Target
$25,000+548%
Close on the deadline
$20,228price data

The close of the last trading day on or before Sep 14, 2022 decides: the prediction comes true if that close is at or above $25,000. Prices are daily closes in UTC, not intraday highs.

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