Tom Lee: 'Bitcoin Spot ETF Approval Will Throw It Up To $150,000'

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Tom Lee, co-founder of the investment company Fundstrat, believes that if the U.S. Securities and Exchange Commission (SEC) approveslaunch of spot ETFs on Bitcoin, the price of the first cryptocurrency cangrow 5-6 times.

At the end of July, analysts at Fundstrat predicted that the approval of an ETF with direct investments in BTC would significantly spurThe firm's managing partner supported analysts during his speech on the "Squawk Box" program on CNBC.Tom Lee stressed that the bitcoin ETF has proven itself internationally, but it is the approval of such a product in the United States that canbecome the basis for the large-scale adoption of the first cryptocurrency.

The investor also noted that the cryptocurrency market is interconnected with the wider financial industry and stabilizing the inflation rate will helpAnd this, in turn, may lead to a weakening of the tough position of various central banks towards the cryptocurrency industry.Tom Lee himself expects that overall inflation in the United States mayless than 2% at the end of the year.

Back in 2022, Tom Lee urged the older generation to invest in Bitcoin, namely Baby Boomers have accumulated 76% of US capital.