Bobby Lee returns with new Bitcoin wallets and a $200,000 per Bitcoin prediction

Lee’s REAL wallets will allow normal people to easily access cryptocurrencies.
According to Lee, investors should not be dissuaded by the up and downs of Bitcoin price, soon it will be trading at $200,000.

John Isige FXStreet

China’s first Bitcoin exchange BTCC founder Bobby Lee has been missing from the cryptocurrency space for a while. However, he is now making a comeback with a new startup called Ballet. The startup is focused on bringing to the industry a new set of Bitcoin wallets.

In an interview with Yahoo Finance, Lee said that the new wallets will enable “normal people, regular people access to cryptocurrency.” The first batch of the wallets are referred to as REAL and do not contain any electronic parts. For this reason, they can be used for safekeeping for private keys. In other words, Lee says:

“It’s like cash, once you load it with bitcoin, litecoin, ethereum, this device has everything it needs to access the funds.

“It can be used as a gift to give someone or you can just store it in safe deposit box and hide it somewhere at home. This is completely offline, there’s no hacking risk.”

Lee founded and run BTCC prior to the ban on trading activities in 2017. He later sold the exchange at an undisclosed amount. He spent most of last year giving speeches and on vacation. However, he decided to make a re-entrance into the crypto industry after spotting a gap.

Ballet has managed to raise $5 million in seed funding. Most of the funds are from family and friends but Ribbit Capital, a Silicon Valley capital fund backed it as well.

At the time, Lee was exiting the crypto market, Bitcoin was at its peak close to $20,000. It has since corrected lower and is currently holding ground above $10,000. Lee is predicting that Bitcoin will soon rise to levels above $50,000 and even hit $200,000.

“We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000 and go to $50,000, $100,000, even $200,000.

He continued:

“When I say a short time, I don’t mean minutes or hours, I mean maybe months, if not a few years.”

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000. ASTER, NIGHT, and ENA risk further losses as selling pressure mounts and risk-off sentiment spreads across the crypto market.

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum (ETH) treasury company BitMine Immersion scaled up its digital asset stash last week after acquiring 102,259 ETH since its last update. The purchase has increased the company's holdings to 3.96 million ETH, worth about $11.82 billion at the time of publication.