Fundstrat's Tom Lee said the approval of a new spot bitcoin ETF could send the token soaring in 2024. The strategist still sees upside even if a spot bitcoin ETF doesn't get approved by regulators. In an interview with CNBC Wednesday, the strategist broke down why a six-figure jump above the previous record high of $69,000 remains in the cards. "If the spot bitcoin gets approved, I think the demand will be greater than the daily supply for bitcoin," Lee said. The Jacobi Bitcoin ETF went live Tuesday in Europe under the ticker BCOIN, but regulators in the US have yet to approve applications for similar funds from asset managers including BlackRock and Fidelity.

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Persons: Fundstrat's Tom Lee, Tom Lee, Lee, Satoshi Nakamoto, Crypto, there's Organizations: CNBC, doesn't, Service, CNBC Wednesday, BlackRock, Fidelity Locations: Wall, Silicon, Europe