Fundstrat’s indexes track a total 630 digital currencies, divided by market capitalization and trading volume into five baskets.
A prominent Wall Street strategist who predicted bitcoin could more than quadruple in value in five years has created five indexes to track digital currencies.
Fundstrat Global Advisors’ Thomas Lee said in a report Friday that the FS Crypto FX indexes are for institutional investors “to better understand the evolution and behavior of crypto-currencies.”
In July, Lee, former chief equity strategist at JPMorgan Chase, boldly predicted bitcoin could be worth more than $20,000 by 2022. On Friday, it hit a high for the day of $4,417.45. He was the first major Wall Street strategist to formally present his views on bitcoin, and remains the only one.