Tom Lee thinks 2024 might be a giant yr for Bitcoin (BTC).
Lee, the managing companion at fairness analysis agency Fundstrat International Advisors, says in a brand new interview on The Julia La Roche Present that two main tailwinds will prime BTC for fulfillment subsequent yr.
“The primary is financial coverage’s flipping. Central banks are actually flipping dovish. You’ve by no means had a down cycle in crypto when the Fed’s straightforward. And the second is that there’s actually a option to onramp extra prospects as a result of a Bitcoin spot ETF (exchange-traded fund) is more likely to get accepted.
I really like how individuals assume that that’s not an upside story. It’s a $2 trillion asset class which you could’t actually entry by means of your 401(ok) right now. However should you make it obtainable by means of a spot ETF, keep in mind US households have like $170 trillion of investable capital.”
Lee says if individuals put simply 1% of their 401(ok)s into Bitcoin, it might overwhelm BTC’s provide, which might drive costs larger.
“I believe Bitcoin might have a really sturdy yr subsequent yr.”
James Seyffart, an exchange-traded fund analysis analyst at Bloomberg Intelligence, predicts that the primary spot BTC ETFs will probably be accepted subsequent month.
Bitcoin is buying and selling at $43,402 at time of writing.
I
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Test Worth Motion
Observe us on Twitter, Fb and Telegram
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses you could incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in affiliate marketing online.
Generated Picture: Midjourney
