Fundstrat's Tom Lee: Wall of worry is healthy, Bitcoin has performed admirably

Thomas Lee, managing partner and the head of research at Fundstrat Global Advisors, said Thursday that growing concerns about COVID and the geopolitical situation are actually positive signs for the market because they create conditions for further rallies if good news hits. "I think we are definitely in a risk-on environment. It's healthy to see this wall of worry," he told CNBC. Lee also said that Bitcoin (BTC-USD) has performed "admirably" during recent weeks, holding up despite regulatory scrutiny in both China and the U.S. He contended that recent action in crypto pointed to "true underlying resilience" in the market. Looking ahead, Lee highlighted NFTs and overseas buying as potential near-term catalysts for the asset class. Detailing his view of the stock market, Lee explained that markets do better when people are worried because those trepidations keep money on the sidelines. As a result, a pool of cash exists to