Macro guru and renowned fund manager Dan Tapiero is optimistic about Bitcoin‘s (BTC) potential to reach a six-figure price and has given a timeline for the largest cryptocurrency to hit $1 million.
“Reasonable Figure” for $100,000
In a recent interview with Natalie Brunell, Dan Tapiero stated, “I think we’ll see Bitcoin above $100,000 in the next bull run.” A price of $100,000 for the largest cryptocurrency represents a 167% increase from current levels. According to Tapiero, a price of $100,000 per BTC is a relatively low target, and the leading cryptocurrency could rise even further in the next five years:
When I first began to deeply explore this subject in 2019, my target for Bitcoin was always around $250,000 to $350,000. That was a reasonable figure for me to achieve by 2029. So in 2019, my thinking was that by the end of the decade, we could reach this reasonable figure.
Predicting $1 Million for Bitcoin
Tapiero also commented on the timing of reaching the previously predicted $1 million price by ARK Invest CEO Cathie Wood. He said, “So Cathie comes out and says, ‘Bitcoin is going to be $1 million,’ right? Well, I think that could be achieved, but I think it could be 2035 or 2038. I don’t know, it may be earlier.”
Tapiero also discussed the widespread adoption of Bitcoin as a store of value:
There are many assets that people generally invest in as a store of value, like real estate, art, collectibles. So Bitcoin can really take a part of its capital in this store of value. People also hold it as protection against inflation, so it’s stocks and bonds and things like that.
So if you think about all the assets that people have just to keep up with inflation, you can see that a large portion of that could go into Bitcoin. I just don’t think it will happen very quickly.
