The Fundstrat cofounder and head of research made the comments said at conference in Singapore, according to Bloomberg.
Bitcoin would need to surge past $150,000 per coin to make an exchange-traded fund for the coin feasible, Fundstrat Global Advisors co-founder Tom Lee said, according to Bloomberg. The estimate requires a 1,670% gain for the popular cryptocurrency. It traded at roughly $8,488 as of 3 p.m. ET Friday. Large fund launches can bring in $13 billion in first-year interest, and the buzz around cryptocurrencies remains healthy, Lee said.
Bitcoin would need to surge past $150,000 per coin to make an exchange-traded fund for the coin feasible, Fundstrat Global Advisors co-founder Tom Lee said, according to Bloomberg. The estimate requires a 1,670% gain for the popular cryptocurrency. It traded at roughly $8,488 as of 3 p.m. ET Friday. Large fund launches can bring in $13 billion in first-year interest, and the buzz around cryptocurrencies remains healthy, Lee said.
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