FundStrat’s Tom Lee, who called the comeback in crypto in recent years and the stock market rebound in 2020, spoke to CNBC PRO about why bitcoin’s supply crisis makes it a good long-term bet.
While crypto experts agree that we have more than 100 years until we run out of bitcoin, the fact that there is an expiration date is a big part of what gives the world’s biggest cryptocurrency its value.
There will only ever be 21 million bitcoins in existence, because, like other cryptocurrencies, it was built around the principle of a finite supply. The total number of mined bitcoin is at roughly 18.6 million, so it’s nearing its maximum threshold.
(Watch the video below for exclusive insight from Tom Lee.)