Investor Tom Lee believes that Bitcoin (BTC) could soar above $250,000 in this bull market. He sees a potential increase of 150% on top of its already impressive gains.

In a recent chat on the Wealthion podcast with Anthony Scaramucci, founder of SkyBridge Capital, Lee shared his insights. He pointed out that Bitcoin's current technical path and the upcoming pro-crypto presidential administration are key factors in reaching this ambitious price target.

“Over the next twelve months, I think something over $250,000 is possible. It might even be highly probable if we look at this price cycle,” he said.

Lee also highlighted the influence of the new administration. They have run on a pro-Bitcoin platform. If the U.S. government legitimizes Bitcoin and designates it as a strategic reserve asset, it could significantly boost Bitcoin's price potential. Imagine if the U.S. acquires a million Bitcoins. They would become the largest holder in the world, which would greatly enhance Bitcoin's legitimacy.

He compared this situation to MicroStrategy. This company has shown that using Bitcoin as a balance sheet asset can create real value for shareholders.

In another interview with Natalie Brunell, Lee estimated that Bitcoin's market cap could jump by about 750%, reaching around $16 trillion. He believes more investors will turn to Bitcoin as a better store of value than gold.

As of now, Bitcoin is trading at $95,943. It’s an exciting time for Bitcoin, and many are eager to see where it goes next.