Stocks are rising, and investors may be wondering if there’s more upside ahead. According to Tom Lee, managing partner at Fundstrat Global Advisors, the answer is yes on three fronts. S&P 500 Lee said the S&P 500 has further room to rise next year. On Thursday, he told “Squawk Box Asia” his target for the index going into 2024 is 4,750, or more than 8% up from Tuesday’s close. Lee said he believed comments from the Fed’s meeting last week gave the “green light” for further gains in stocks. “Our view is you want to take risks this year,” he added. “The reason we want you to take the risk is we do think we’re basically through the worst of this tightening cycle and we think inflationary pressures are easing quickly.” That would set the stage for earnings to outperform, he said . Bitcoin Over the past few years, the price of Bitcoin has seen some wild swings. It surged to an all-time high of $69,000 in November 2021, but has since fallen to just over $26,800. But Lee said bitcoin has a brighter future ahead. He told CNBC’s “Squawk Box Asia” that the cryptocurrency could soar to $200,000 based on a forecasting model his firm uses. “Our thinking is that over the next five years, we should see another log function increase in the value of the Bitcoin network,” Lee said, referring to a metric used by the company. “So it’s going to triangulate to about 100,000 to 200,000.” Bitcoin is up nearly 62% so far this year, and has largely tracked the performance of stocks over the past two years, according to Coin Metrics. Lee’s $100,000 to $200,000 calls would represent a potential upside of 273% to more than 600%. China Lee said his firm was also bullish on Chinese stocks and urged investors to start adding to Chinese stocks. “It’s a tried and true rule for investors that when policy eases, you want to add risk, and … that should lead to meaningful moves and support further breakouts,” Lee said. China has been taking a series of monetary policy easing measures recently, such as cutting some key lending rates, as well as slashing deposit rates.