Fundstrat Global Advisors managing partner Tom Lee made an aggressive call about Bitcoin (BTC-USD) on Wednesday, saying that the cryptocurrency could climb as high as $150K by the end of the year.

“I think it's [Bitcoin], you know, could be as high as $150K,” Lee stated in an interview on CNBC. “You've got demand improving with the ETF and you have the supply shrinking ... and if monetary policy eases which we expect, you know, that's supportive of risk assets and Bitcoins holding up and I mean it's another reason why I don't think a drawdown is going to start that soon.”

As of Wednesday afternoon, Bitcoin currently trades at $51,375 and for $150K to be reached it would need to advance by roughly 192% from its current value.

Bitcoin price action: +110.1% over the past year, +16.2% in 2024, and +23.5% over the past month.

Bitcoin backed ETFs and managed futures funds: (IBIT), (ARKB), (GBTC), (BRRR), (BTCO), (HODL), (BTCW), (FBTC), (BITB), (EZBC), and (BITO).