The Bitcoin price could climb to $200,000 after the U.S. Securities and Exchange Commission (SEC) cracked down on cryptocurrency exchanges, according to Fundstrat head of research Tom Lee.

Commenting on Cathie Wood's hugely bullish outlook for BTC - the Ark Invest CEO holds a $1 million target for Bitcoin — he said that her rationale isn't misguided. "I think her idea of network value for Bitcoin and scarcity still argues that, if this isn't an upcycle, her numbers are correct, you know, something in the $200,000-plus range," he said.

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