Bitcoin to $2M? Tom Lee And Michael Saylor Think So, But Analysts Disagree

Core Viewpoint - Bitcoin's potential long-term value could reach between $1.6 million and $2 million if it matches gold's market capitalization, according to Tom Lee, while analysts express skepticism about such high valuations [2][5]. Group 1: Price Predictions - Tom Lee predicts Bitcoin could rise to between $1.6 million and $2 million if it equals gold's total market capitalization, suggesting that as gold's value increases, it sets a higher benchmark for Bitcoin [2]. - Michael Saylor projects a long-term target of $21 million per Bitcoin within 21 years, citing Bitcoin's capped supply and increasing institutional adoption as key drivers for this potential growth [4]. - Jim Cramer supports the bullish sentiment around Bitcoin, echoing Lee's and Saylor's predictions [5]. Group 2: Market Performance - Gold has increased over 115% in the past two years, reaching an all-time high of $4,381 in October before a slight retreat [3]. - Bitcoin has outperformed gold, gaining approximately 150% since the start of 2024, while gold rose about 100% during the same period [3]. - Following a record high on October 6, Bitcoin's price fell nearly 4% to around $106,700 before recovering slightly [6].