
This single factor propels Bitcoin to as high as $168,000 by 2022
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<p>Bitcoin has now entered the mainstream.</p> <p>With the launch of the world's first bitcoin futures exchange-traded fund (ETF), the world's leading cryptocurrency has seen a nice surge, recently surpassing an all-time high of nearly $65,000.</p> <p>However, there may still be plenty of room to run.</p> <p>According to top Wall Street strategist Thomas Lee, co-founder of Fundstrat Global Advisors, the price of bitcoin could reach $168,000 by year's end, a nearly 170 percent increase.</p> <p>What is the reason?</p> <p>Lee estimates that the new bitcoin ETF could attract a whopping $50 billion in initial coin offerings during its first year, acting as a key short-term driver of the token's price.</p> <p>"We believe that Bitcoin demand will outstrip QQQ inflows," Lee wrote earlier this week in a note to investors.</p> <p>He is referring to the Invesco QQQ Trust Series 1 ETF, which tracks the Nasdaq 100 Index and is currently the fifth-largest exchange-traded fund (ETF) in the United States.</p> <p>If Lee is correct, the cryptocurrency bull market is still in its infancy.</p> <p>Thus, here's how you can get a piece of the action — even if you only have a small amount of spare change to begin with.</p> <p>ProShares Bitcoin Strategy Exchange-Traded Fund (BITO)</p> <p>This is the ETF that is garnering all of the attention.</p> <p>The ProShares Bitcoin Strategy ETF does not directly invest in bitcoin. Rather than that, the fund invests in bitcoin futures contracts on the Chicago Mercantile Exchange.</p> <p>BITO launched on Oct. 19 with a $20 million seed round. By day's end, it had gained 4.8 percent and amassed over $570 million in assets.</p> <p>On Wednesday, the price of bitcoin surpassed $65,000 for the first time, while BITO gained another 3%.</p> <p>Investing in ETFs is as straightforward as purchasing a stock. They are traded on major stock exchanges and fluctuate in price throughout the day.</p> <p>However, you can also invest directly in Bitcoin. Nowadays, certain investing apps allow you to pu
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This single factor propels Bitcoin to as high as $168,000 by 2022
Zara