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Bitcoin (BTC) climbed above $19,000 before a correction dragged it down below $17,000. However, a well-known veteran macro investor remains bullish on the crypto’s long terms potential and even expects its price to increase 20 times to six-figure levels.
Dan Tapiero, Gold Bullion International co-founder and a veteran macro investor, believes that both Bitcoin and gold will appreciate in the long run. However, he projects BTC will likely rise higher than the precious metal with the token potentially rising between 20 to 30 times its current price.
“In the next five years, I can see gold at $4,000, so that’s double,” Tapiero told Anthony Pompliano on the Pomp Podcast. “But if gold is at $4,000, Bitcoin is probably somewhere between $300,000 and $500,000, so that’s a 20, 30x.”
He is confident that even those within the gold industry would not dispute his projection. “I don’t really think that anyone in the gold world [...] they are not going to debate that,” Tapiero added.
Dan Tapiero estimates that investors would place between 10 and 15 percent of their funds into gold and Bitcoin within a decade. This means that as much as $15 trillion in wealth could enter into Bitcoin and gold in ten years.
“That’s a huge, huge chunk – I mean 15% of $100 trillion is $15 trillion,” Tapiero said, according to Dailyhodl.com. “That could be $15 trillion to flow into [gold and Bitcoin]. Or more. I think it’ll eventually be more.”
The macro investor also explained why he thinks Bitcoin could outpace gold. “For me… Bitcoin is much bigger than gold,” Tapiero said. “Bitcoin could be, and I think will be, that value protocol for the internet. Gold is a store of value. Bitcoin is an entire network. One aspect of what Bitcoin is is a store of value.”
Aside from Tapiero, there are other analysts who also predict that BTC could reach six-figures in the future. For instance, Off the Chain Capital chief investment officer Brian Estes said that Bitcoin could soar above $100,000 and even go as high as $288,000 by the end of 2021.
