Fundstrat’s Tom Lee Predicts Bitcoin Rally to $200,000, Says People Underestimating Impact of Spot BTC ETF
The managing accomplice of Fundstrat International Advisors, Tom Lee, is making a six-figure prediction for Bitcoin (BTC).
Lee says in a brand new CNBC interview that Bitcoin might explode by over 500% from the present degree inside 5 years.
Requested to offer a timeline for his worth prediction, the Fundstrat managing accomplice says Bitcoin might surge to “one thing round $200,000 inside 5 years.”
Bitcoin is buying and selling at $29,982 at time of writing.
On the rationale for his bullish thesis, Lee says,
“Bitcoin may be very helpful. I believe within the US there’s a bent to suppose the monetary system works effectively for everyone. However for individuals who have cash, it does work effectively.”
The Fundstrat managing accomplice says the impression of a spot Bitcoin exchange-traded fund (ETF) getting licensed within the US is being underestimated.
“I believe the Bitcoin ETF, I believe folks underestimate how vital that will probably be…
And the multiplier proper now [if a Bitcoin ETF is authorized] is roughly four-to-one, which means a greenback of inflows is 4 {dollars} to the change within the worth of Bitcoin’s market cap. So you realize for those who get a $100 billion or $200 billion of demand that’s $800 billion…”
Within the occasion that spot Bitcoin ETF functions are rejected within the US, Lee says
“[If you don’t get an ETF] then you definitely’re going to depend on type of natural community results. However I do suppose an ETF may be very doubtless and that might even be a vital and underestimated catalyst.”
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