Tom Lee, a co-founder of Fundstrat, offered his thoughts on whether or not the price of Bitcoin has peaked.

Tom Lee, a co-founder of Fundstrat, thinks that the price of Bitcoin hasn't yet peaked.

In the most recent episode of the "Speak Up" programme, which features renowned American investor Anthony Scaramucci, Lee shared his opinion that the state of the market right now does not represent a BTC high.

"I don't think it's a peak, but that doesn't mean it's going to reverse today," Lee remarked.

Lee believes that the current drop in the price of Bitcoin is a bear trap and may represent a good time to buy. He went on, "I think we're kind of being duped by the turmoil in April."

In addition, Lee emphasised the technological innovation of Bitcoin, calling it “the purest form of trust.” He argued that Bitcoin's high level of security gives it a significant benefit.

Bitcoin has a proven track record as an asset that has been around for 15 years. Lee posed the question: “How many trillion-dollar markets have existed for 15 years and then disappeared? Never in history.”

Lee is confident that Bitcoin's price will not drop to zero due to the size of the market. He describes such a scenario as “unprecedented”

“There have been many attempts to eliminate Bitcoin, but ultimately financial institutions are slowly starting to realize that it is actually a great solution. That's why BlackRock and others are supporting this through spot Bitcoin ETFs.”