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

In a recent interview on The Compound podcast, Lee draws a parallel between the Strategic Bitcoin Reserve and the concept of the US petroleum reserve, observing that for every dollar spent on oil, over $400 is used for market speculation.

With such extensive oil speculation, Lee emphasizes 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 globally adopted reserve asset, would likely see far more trading activity 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 store just one pixel of a 10 million-page document, but the hash will detect if you change one pixel. That’s why you would use Bitcoin to secure information.

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

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

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

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