Fundstrat Global Advisors’ head of research says bitcoin still has “exponential growth ahead” of it. Although the strategist acknowledged recent price swings in bitcoin, he stressed that the currency has so far recovered its losses in short time.

Bitcoin Still Has ‘Exponential Growth Ahead’

Fundstrat Global Advisors managing partner and head for research, Thomas Lee, spoke to CNBC Monday about the outlook on bitcoin.

Lee is a Wall Street strategist with more than 25 years of experience in equity research. Prior to co-founding Fundstrat, he was J.P. Morgan’s chief equity strategist from 2007 to 2014.

The Fundstrat strategist recommends investing in bitcoin. He emphasizes that there is still “exponential growth ahead” of the cryptocurrency as it becomes more mainstream.

While acknowledging that the price of BTC suffered a decline recently, he insisted that it made more sense to hold the cryptocurrency through volatility rather than trade the fluctuations. He explained:

Every year, bitcoin makes all of its gains in 10 days and if you don’t own bitcoin for those 10 days, you are down 25% a year. It’s a horrible weekend massacre, but it’s quite common.

Last week, Lee commented on Square CEO Jack Dorsey stepping down as the CEO of Twitter. Fundstrat strategist, Lee commented last week on Square CEO Jack Dorsey’s resignation as CEO of Twitter. He stressed that the crypto space is still in its early days, not just for projects like Bitcoin or Ethereum but also for “the amount crypto equities built around crypto “.

Lee doesn’t see bitcoin as a negative. Billionaire Barry Sternlicht, the chairman of Starwood Capital Group, said last week that bitcoin could be worth a million dollars a coin. Meanwhile, Microstrategy’s CEO sees bitcoin becoming a $100 trillion asset class. Skybridge Capital founder says bitcoin will easily trade at $500K, urging investors to buy BTC right now.

Do you agree with Thomas Lee? Please let us know your thoughts in the comments below.

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