Famous fund manager and macroeconomics expert Dan Tapiero is optimistic about Bitcoin’s potential to reach six-figure prices and provides a timeline for the largest cryptocurrency to reach a price of $1 million.
In an interview with Natalie Brunell, Tapiero said, “I believe Bitcoin will surpass $100,000 in the next bull run.” A price of $100,000 represents a 167% increase from current levels for Bitcoin. Tapiero believes that a target of $100,000 for Bitcoin is relatively low and suggests that the leading cryptocurrency could rise even further in the next five years. Access COINTURK FINANCE to get the latest financial and business news.
Tapiero mentions that he started researching this topic in-depth back in 2019 and always believed that the target for Bitcoin was around $250,000 to $350,000. He considers this a reasonable amount to be reached by the year 2029. According to Tapiero, this reasonable figure could be achieved by the end of the next decade.
Tapiero also commented on the timing of reaching the predicted $1 million price, as suggested by ARK Invest CEO Cathie Wood. “Cathie says, ‘Bitcoin will be worth $1 million,’ doesn’t she? Yes, I think this can happen, but it could be in 2035 or 2038. It could also be earlier, I don’t know,” he says.
Tapiero also discusses the widespread acceptance of Bitcoin as a store of value: “There are many assets people invest in as a store of value, such as real estate, art, and collections. Therefore, Bitcoin can really capture a part of this store of value space. People also hold it as protection against inflation, like stocks and bonds. If you think about all the assets people own just to hedge against inflation, you can see that a significant portion of them could go into Bitcoin. I just don’t think it will happen very quickly,” he says.