Macro guru and fund manager Dan Tapiero is optimistic that Bitcoin (BTC) may reach a six-figure price.
In a new interview with Natalie Brunell, Tapiero say that “we will see Bitcoin above $100,000” in the next bull run.
An increase to $100,000 would translate into a gain of at least 167% from current levels.
According to Tapiero, a price of $100,000 per Bitcoin is a “pretty conservative estimate” and could see the top crypto asset soar higher over the next five years.
“My goal for when I first started looking deeply at this in 2019 was always around $250,000 to $350,000 worth of Bitcoin. That was just a number that was a reasonable number for me to reach by 2029. So in 2019, that was pretty much my thinking towards the end of the decade. That is a reasonable number to achieve.”
Bitcoin is trading at $37,459 at the time of writing.
As for when Bitcoin could reach a price of $1 million as ARK Invest CEO Cathie Wood previously predicted, Tapiero says:
“I think Cathie came out and said…did she say $1 million? [Bitcoin price target]? And I can get those numbers too… But that could be, maybe it’s 2035 or 2038. I mean, I don’t know. Or it could be sooner.”
Regarding the mainstream adoption of Bitcoin as a store of value, Tapiero says:
“There are many assets, such as real estate, that people invest in, often as a store of value. You know, art, paintings, stores of value.
I mean Bitcoin could really take over some of the store of value capital that is out there. People also own stocks because it is a hedge against inflation.
So if you think about all the assets that people own just because they want to keep up with inflation, you could let a lot of that go into Bitcoin. I just don’t think it will happen that quickly.”
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