Reza Bundy, CEO of Atlas Capital, has issued a stark warning that Bitcoin could lose up to 70 percent of its current value within the next six months. Bundy identified the $26,000 to $30,000 range as a potential bottom for the world’s largest cryptocurrency.
Sharp short-term correction expected
Speaking at the Proof of Talk conference in Paris, Bundy argued that if stock markets experienced even half the turmoil of the 2008 financial crisis, Bitcoin could be impacted twice as severely. At the time of his comments, Bitcoin was trading near $63,000 and had already lost close to 28 percent since the beginning of the year.
Bundy stated they expect a brutal pullback in Bitcoin over the coming six months, warning the decline could reach as much as 70 percent.
Atlas Capital is a well-known investment advisory firm. Bundy’s business partner, economist Nouriel Roubini, became famous for his early warnings about the 2008 global financial crisis and remains a vocal skeptic of Bitcoin.
Long-term views diverge despite partnership with Roubini
According to the report, Roubini previously dismissed Bitcoin as a speculative asset, arguing that it fares poorly compared to classic safe havens like gold. Bundy shares this cautious approach in the short term, but the two partners reportedly disagree when it comes to Bitcoin’s long-term outlook.
Bundy claims Bitcoin has failed to live up to expectations as an inflation hedge, moving more in line with tech stocks than with defensive assets. He ties this assessment to the cryptocurrency’s lackluster performance even during periods of U.S. dollar weakness.
Up to $500,000 projected in optimistic long-term scenarios
Despite warning of significant short-term losses, Bundy also suggested that Bitcoin could eventually climb to between $150,000 and $500,000, depending on future macroeconomic conditions. He sees prices reaching $150,000–$250,000 under a controlled expansion scenario, and $250,000–$500,000 if fiscal dominance takes hold.
| Scenario | Probability | Bitcoin forecast |
|---|---|---|
| Controlled expansion | 40% | $150,000 to $250,000 |
| Fiscal dominance | 25% | $250,000 to $500,000 |
| Global conflict | 20% | Initial turmoil, followed by a stronger store-of-value narrative |
| Deflationary recession | 15% | Downward pressure until liquidity returns |
Bundy attributes this long-term optimism to Bitcoin’s potential to provide an alternative to fiat currencies, especially amid growing public debt and expanding money supply.
Bitcoin absent from current fund portfolio
Atlas Capital reportedly manages an ETF listed on Nasdaq under the symbol USAF. The fund uses artificial intelligence-driven algorithms to allocate assets across precious metals, agricultural commodities, real estate, and military technology. The fund’s net asset value stands at approximately $18 million, with a return of 8.7 percent since inception.
Mini glossary: An ETF, or exchange-traded fund, offers investors access to multiple assets through a single product; Nasdaq is one of the leading tech-heavy stock exchanges in the U.S.
Bitcoin is not currently included in the fund’s portfolio. Bundy stated that they will wait for the anticipated correction before deciding whether to add the cryptocurrency. He also announced plans to tokenize the fund on public blockchain networks next month.
Bundy explained the final decision on adding Bitcoin to the portfolio will only be made once a correction has occurred.
