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Tom Lee, managing partner of Fundstrat Global Advisors, was aggressive on Bitcoin (BTC-USD) on Wednesday, saying the cryptocurrency could rise to as much as $150,000 by year-end.
“I think it is [Bitcoin]you know, could be up to $150,000,” Lee said explained in an interview on CNBC. “With the ETF, demand improves while supply shrinks… and if monetary policy eases, which we expect, then that helps risk assets and Bitcoin hold up, and I mean, that's another reason why I do don't do. “I don’t think there will be a drawdown anytime soon.”
As of Wednesday afternoon, Bitcoin is currently trading at $51,375, and to reach $150,000 it would need to rise about 192% from its current value.
Bitcoin price development: +110.1% over the last year, +16.2% in 2024 and +23.5% last month.
Bitcoin-Backed ETFs and Managed Futures Funds: (IBIT), (ARKB), (GBTC), (BRRR), (BTCO), (HODL), (BTCW), (FBTC), (BITB), (EZBC) and (BITO).
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