Fundstrat Global Advisors managing partner Tom Lee says one catalyst could spur Bitcoin (BTC) to hit a six-figure price.
In a new CNBC interview, Lee says that demand for Bitcoin could skyrocket if and when a spot Bitcoin exchange-traded fund (ETF) is approved in the US by the U.S. Securities and Exchange Commission (SEC).
Bitcoin is trading at $26,432 at time of writing and would need to appreciate by between 467% and 580% to reach Fundstrat’s forecast.
On Bitcoin’s likely price action if a spot BTC ETF fails to win approval in the US, Lee says.
