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One catalyst could trigger Bitcoin to explode by more than 450%

August 22, 2023


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.

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