Tom Lee, co-founder of Fundstrat Global Advisors, reaffirmed his bullish outlook on Bitcoin, maintaining his ambitious price target of $150,000 during a recent interview with CNBC.

Lee pointed to several factors bolstering his optimistic stance on Bitcoin's future trajectory. Firstly, he highlighted the tailwinds associated with the recent Bitcoin halving, a phenomenon that historically has preceded significant price appreciation. Additionally, Lee noted the substantial inflows into Bitcoin exchange-traded funds (ETFs), with products like BlackRock's IBIT amassing over $20 billion in total assets under management.

The renowned analyst emphasized that institutional infrastructure surrounding Bitcoin is still in its early stages, suggesting ample room for growth in institutional adoption. Lee asserted that the widening ownership of Bitcoin among institutional investors will serve as a catalyst driving the cryptocurrency to his target of $150,000. He reiterated that Bitcoin's value is fundamentally rooted in mathematical principles, with over 87% of Bitcoin movements still correlating with wallet activity.

Lee's bullish sentiment echoes his earlier prediction in May, where he doubled down on the $150,000 target, citing factors such as declining inflation in the latter half of the year as key catalysts for Bitcoin's upward trajectory. Despite Bitcoin trading at around $70,156 as of June 2, Lee remains undeterred in his outlook.

During his recent appearance on "Squawk Box," Lee commented on the current economic landscape, noting that inflation is trending softer than anticipated. He observed that while the job market is cooling, it is not experiencing significant weakening, which bodes well for U.S. equities. Fundstrat had initially expected markets to rebound in May following the August sell-off, but Lee now suggests that June may see even stronger market performance.

Lee's steadfast confidence in Bitcoin's future prospects underscores the continued resilience of the cryptocurrency market and its potential for sustained growth amidst evolving economic conditions.