Macro guru and fund manager Dan Tapiero is optimistic that Bitcoin (BTC) will potentially hit a six-figure price.
In a new interview with Natalie Brunell, Tapiero says that “we’ll see Bitcoin over $100,000” in the next bull run.
A surge to $100,000 would translate to a gain of at least 167% from the current level.
According to Tapiero a price of $100,000 per Bitcoin is a “pretty conservative estimate” and the flagship crypto asset could rally higher over the next half a decade.
“My target for when I first started looking at this deeply in 2019 was always around $250,000 to $350,000 on Bitcoin. That was just a number that was to me a reasonable number to get to by 2029. So in 2019, that was sort of my thought by the end of the decade. That’s a reasonable number to get to.”
Bitcoin is trading at $37,459 at time of writing.
On when Bitcoin could reach a price of $1 million as ARK Invest CEO Cathie Wood has previously predicted, Tapiero says,
“I think Cathie has come out and said… did she say a $1 million [Bitcoin price target]? And I can get to those numbers too… But that might be, maybe it’s 2035 or 2038. I mean, I don’t know. Or it could be earlier.”
On Bitcoin’s mainstream adoption as a store of value, Tapiero says,
“There are a lot of assets like real estate people invest in often as a store of value. You know, art, paintings, stores of value.
I mean Bitcoin could really take a chunk of that store of value capital that’s out there. People own equity also because it’s a hedge against inflation.
So, if you think of all the assets that people own just because they want to keep up with inflation, you could have a big chunk of that go to Bitcoin. I just don’t think it happens that quickly.”
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Author: Mark Emem
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