The price of Bitcoin (BTC) will surge past an eye-watering $150,000 by the end of 2024, as long as the current slew of United States spot-Bitcoin exchange-traded funds (ETFs) are approved, according to investment research boutique Fundstrat.
In an Aug. 16 interview on CNBC’s Squawk Box, Fundstrat’s managing partner and head of research, Tom Lee, predicted that a bundle of successful Bitcoin spot ETF applications would shift Bitcoin’s supply-demand dynamics towards considerable price appreciation.
When asked what the price of Bitcoin could be by the end of next year, Lee didn’t hold back:
“If the spot Bitcoin (ETF) gets approved, I think the demand will be greater than the daily supply of Bitcoin, so the clearing price […] is over $150,000, it could even be like $180,000.”
Lee clarified that this could be the case so long as it is a United States-approved spot Bitcoin ETF, as there are already spot Bitcoin ETFs in Europe.
“If the Spot #Bitcoin ETF gets approved … the clearing price of $BTC is above $150,000.” – Tom Lee @fundstrat pic.twitter.com/ILQZqdjsZA
— Michael Saylor⚡️ (@saylor) August 16, 2023
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