Investor Tom Lee states that Bitcoin could potentially become the most profitable product for Wall Street giants as the US moves towards making BTC a reserve asset.

In a recent interview on The Compound podcast, Lee compares the Strategic Bitcoin Reserve to the concept of the US petroleum reserve, noting that for every dollar spent on purchasing oil, over $400 is utilized for market speculation.

With such extensive oil speculation, Lee argues that countries require oil reserves to manage supply and avoid being “whipsawed” by volatility.

The head of research at Fundstrat suggests that if oil speculation is valued at 400 times its market value, Bitcoin, as a global reserve asset adopted by the masses, would likely experience significantly higher trading volumes and could become the most profitable product for Goldman Sachs and JPMorgan Chase.

“Let’s say [Bitcoin] becomes 10% of people’s net worth and banks start to use it to secure information. Remember on the blockchain, you can just store one pixel of a 10 million-page document, but the hash will detect if you change one pixel. That’s why you’re going to use Bitcoin to secure information.

Well, that’s really valuable, but wouldn’t the US want to control this blockchain or find a way to censor it somehow? And once banks start trading Bitcoin, like Citadel, it will probably be the most profitable product for Goldman and JPMorgan…

And if oil is traded 400 times, Bitcoin might be a thousand times; it’s going to be a hugely tradable commodity.”

At the time of writing, Bitcoin is trading at $86,785.

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