Thomas Lee says there appears to be an interesting correlation between bitcoin (BTC) and emerging-market stocks.

The Fundstrat Global Advisors managing partner told CNBC that both bitcoin and emerging-market equities peaked earlier this year and then traded lower. Until emerging markets begin to turn, he says that correlation probably will hold. Lee says emerging-market stocks rise in a “risk-on” environment in which investors will be more likely to also purchase bitcoin.

He also said there appear to be a “wealth effect” at work: As emerging-market stocks have fallen in value, there’s less capital available to use to purchase bitcoin. Watch the interview with Lee here.

ThirtyK Staff
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