Bright Future for Spot ETFs: Tom Lee of Wall Street Bullish on Bitcoin Reaching $500,000 Within 5 Years

Bright Future for Spot ETFs: Tom Lee of Wall Street Bullish on Bitcoin Reaching $500,000 Within 5 Years

Bright Future for Spot ETFs: Tom Lee of Wall Street Bullish on Bitcoin Reaching $500,000 Within 5 Years

Tom Lee, the head of research at investment research firm Fundstrat, recently stated in an interview with CNBC that he believes Bitcoin may surpass $100,000 within the next 12 months, possibly even reaching $150,000, and could potentially reach around $500,000 within the next five years.

When asked about whether traditional investors who currently purchase Bitcoin through exchanges would continue to do so after the approval of a Bitcoin exchange-traded fund (ETF), Tom Lee responded by saying that many younger investors prefer to follow the principle of “my keys, my coin,” meaning they want to have direct control over their private keys, which is a common saying in the cryptocurrency community. However, Tom Lee also predicted that older investors may still prefer to hold the asset through public markets and intermediaries.