Tom Lee expects Bitcoin at $150k with spot ETF approvals
Tom Lee of Fundstrat foresees a potential surge in Bitcoin’s value, particularly if the US approves spot Bitcoin ETFs, hinting at prices exceeding $150,000. In a recent CNBC interview, Tom Lee, co-founder of Fundstrat Global Advisors, predicted a potential surge in Bitcoin’s value, especially if spot Bitcoin exchange-traded funds (ETFs) receive US approval . Lee believes that if the US greenlights several spot Bitcoin ETF applications, Bitcoin’s demand could overtake its daily supply, possibly driving its price beyond $150,000. While spot Bitcoin ETFs are available in Europe, US approval could create a larger ripple effect due to the nation’s significant role in crypto-related ETF trading. This bullish outlook coincides with expectations surrounding Bitcoin’s next halving event in April 2024, which many predict will result in increased scarcity and a subsequent price hike. Regardless of the outcome of current ETF applications, Lee foresees a price r...