 
 
Tom Lee, managing partner at Fundstrat, told CNBC this month that Bitcoin “can easily get to $200,000 before the end of the year.”
He tied the call to an expected pivot in U.S. monetary policy and to the pattern of strong fourth-quarter performance for risk assets.
Bitcoin trades near $116,000 as of Sept. 15, 2025. CoinMarketCap reported a live market capitalization of approximately $2.3 trillion and a circulating supply of around 19.92 million BTC on that date.
Bitcoin hit fresh record highs in mid-August, topping $124,000. In the August peak, I linked it to expectations of easier Fed policy and institutional demand.
Reason as to why Lee cites Fed policy
Lee argues that a Fed rate cut would increase dollar liquidity. He says that increased liquidity tends to lift risk assets, including Bitcoin. He made the remarks on CNBC in early September ahead of a widely watched Fed meeting scheduled for Sept. 17.
 
At a price near $116,000 today, Bitcoin’s market cap sits near $2.3 trillion. A move to $200,000 implies a market cap of roughly $3.98 trillion, an increase of about $1.69 trillion (roughly 74%).
Three measurable channels could meet the demand Lee describes: continued ETF inflows, large-scale corporate treasury purchases, and more favorable U.S. monetary conditions that boost allocation to risk assets.
Reporting in August and September showed strong ETF flows and elevated institutional activity, which market commentators cite as supporting evidence.
Markets have reacted to political and regulatory developments this year. Headlines about a federal crypto reserve and other policy proposals coincided with large one-day moves in Bitcoin.
Public reports confirm a correlation between policy signals and price jumps on specific dates. They do not, however, provide a single causal equation that converts a Fed personnel or policy change into a defined Bitcoin price path.
Tom Lee publicly stated on CNBC that Bitcoin can reach $200,000 before year-end, and he framed the scenario around expected Fed easing.
Source: https://zycrypto.com/wall-street-veteran-tom-lee-sees-bitcoins-path-to-200000-before-year-end/