$100,000 Bitcoin in reach, says macro expert

26/11/2023
77

Macro expert and fund manager Dan Tapiero is optimistic that Bitcoin (BTC) may reach a six-digit price.
In a new interview with Natalie Brunell, Tapiero says that "we will see Bitcoin over $100,000" in the next bull market.

A rise to $100,000 would mean a gain of at least 167% from current levels.
According to Tapiero, a price of $100,000 per Bitcoin is a "fairly conservative estimate" and the flagship crypto-asset could rise even higher over the next five years:

"My target when I went deep into this in 2019 was always around $250,000 to $350,000 for Bitcoin. That was just a reasonable number for me to reach by 2029. So in 2019, that was my thought towards the end of the decade. That's a reasonable number to reach."

Bitcoin is trading at $37,459 at the time of writing.

Asked when Bitcoin might reach a price of $1 million, as ARK Invest CEO Cathie Wood has previously predicted, Tapiero said:

"I think Cathie has come out and said… has she said it's a $1 million [Bitcoin price target]? And I can get to those figures too… But that might be 2035 or 2038. I mean, I don't know. Or it could be earlier."
"People often invest in assets like real estate as a store of value. You know, art, paintings, store of value.

I mean, Bitcoin could really absorb some of that capital of store of value that's out there. People also own stocks because it's a hedge against inflation.

So if you think about all the assets that people own just because they want to keep up with inflation, a big part of that could go to Bitcoin. I just don't think it will happen that fast."

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