Tom Lee, a prominent Wall Street bull, recently stated in an interview with CNBC that with the approval of Bitcoin spot ETFs, the price of Bitcoin could reach $150,000 within the next 12 months and potentially soar to $500,000 within the next 5 years.
After numerous setbacks, the U.S. Securities and Exchange Commission (SEC) finally approved the applications for 11 Bitcoin spot ETFs on the 11th, marking a new milestone for the acceptance of cryptocurrencies in traditional finance.
In this context, Tom Lee, the founder of Fundstrat and a well-known Wall Street analyst nicknamed the “Bitcoin bull,” stated in an interview with CNBC that with the approval of ETFs, the price of Bitcoin could potentially surge to $100,000 or even $150,000 within the next 12 months. He also mentioned that due to Bitcoin’s deflationary nature and the purchasing demand brought by ETFs, BTC could even reach $500,000 within the next 5 years.
Additionally, Tom Lee added that young investors seem to prefer the “my keys, my coin” principle when it comes to purchasing Bitcoin, opting to buy spot Bitcoin through exchanges. On the other hand, traditional financial investors may still prefer to hold BTC through public markets and intermediaries.
Anthony Scaramucci, the founder of Skybridge Capital, a hedge fund with assets under management of up to $3.5 billion, also stated in an interview with CNBC on the 11th that Bitcoin is expected to surpass the historical high of $69,000 from the November 2021 bull market by the end of 2024. Scaramucci also revealed that he will become a buyer of ETFs.
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