Tom Lee: Bitcoin Will Soar to $185,000

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Tom Lee of Fundstrat has told CNBC recently that the cost of the leading digital currency, Bitcoin, could reach $150,000 once exchange-traded crypto funds ETFs are allowed to be focused on the spot price of the currency.

Additionally, upon higher activity from institutional investors, Lee suggested Bitcoin could possibly reach $180,000.

On another interview this week, he reaffirmed his belief and included that the demand for Bitcoin may exceed its supply, leading to an increase to $185,000. Bloomberg analyst Eric Balchunas is 95% sure that a crypto ETF dealing with BTC spot prices will hit the U.S. market by the end of 2024, with a 75% chance of it happening in 2021.