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Tom Lee, Fundstrat Global Advisors co-founder, has put forth a bullish prediction regarding Bitcoin ’s ( BTC ) near-term price action on CNBC’s Squawk Box on April 21 . Namely, the financial analyst believes that the leading digital asset struggled at the beginning of the year due to the overleveraged positions of institutional investors. “Now that deleveraging is done, I think that Bitcoin is gonna catch up to gold. And Bitcoin’s old high was over $110,000, so I think there’s a lot of room to catch up as a sort of non-dollar asset.” At the time of writing on April 21, Bitcoin was trading at $88,210, having marked a 4.43% gain on the daily chart, which has brought year-to-date (YTD) losses down to 5.67%. BTC price 1-day and year-to-date (YTD) charts. Source: Finbold Here’s how much Bitcoin would have to rally to catch up to gold In contrast with the leading cryptocurrency , gold prices have increased by 30.31% since the start of the year, having reached $3,420 per ounce by press time. Gold price year-to-date (YTD) chart. Source: TradingView Accordingly, BTC would have to see a 36.61% surge from current levels in order to catch up to gold. In absolute terms, this amounts to a rally to $120,507 — some 13.49% higher than the digital asset’s all-time high (ATH of $106,180, reached on January 22. However, readers should note that Lee’s optimism could be unfounded — the analyst had previously predicted a stock market recovery in late February, which failed to materialize. Moreover, in September of 2024, Lee missed the mark when he predicted a 7% to 10% pullback in the S&P 500. With that being said, Lee maintains a generally strong track record in terms of predictions, and has set a $250,000 price target for Bitcoin by the end of 2025. Watch the full video here: Featured image via Shutterstock The post Fundstrat’s Tom Lee: ‘Bitcoin is going to catch up to gold’ appeared first on Finbold .
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All about Bitcoin’s LTHs, Metaplanet’s purchase, and if you should be worried or not
Bitcoin`s long-term holders are seeing a spike in profit margins. Finbold
Charles Schwab CEO Says Firm Looking To Launch Spot Crypto Trading Within 12 Months
The CEO of financial services giant Charles Schwab says the firm is looking into launching a spot crypto trading platform for clients within the next year. In the company’s Q1 earnings call, CEO Rick Wurster says he believes that Charles Schwab is a “great destination” for investors interested in crypto, and there’s an obvious new wave of interest in the asset class. “And we’ve seen that in the level of new account growth and the level of engagement in our crypto site, where we saw a 400% increase in traffic to it recently, 70% of whom were prospects and what that – were not clients. And what that says to us is that as people in the industry are thinking about crypto, they’d love to work with a trusted brand and a firm that can bring them a lot of capabilities, and we’re that firm. So as we roll out more and more new capabilities, we’re confident we will be a great destination for investors interested in crypto.” Charles Schwab, which manages $9.93 trillion in total client assets, is now looking to roll out a new spot crypto trading service by 2026, according to Wurster. “Our expectation is that with the changing regulatory environment, we are hopeful and likely to be able to launch direct spot crypto and our goal is to do that in the next 12 months and we’re on a great path to be able to do that. So we’re excited about meeting our clients’ crypto needs, we believe we are doing a lot of that today but we’ll also add capabilities in the near term.” Barron’s recently reported that Charles Schwab created a new executive position, “head of digital assets,” which will be responsible for the firm’s overall crypto assets strategy. Joe Vietri, a former head of the branch network at the financial services giant, will serve as the inaugural head of digital assets. Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Charles Schwab CEO Says Firm Looking To Launch Spot Crypto Trading Within 12 Months appeared first on The Daily Hodl . Finbold
