Cryptocurrency News

Macro Investor Dan Tapiero: BTC Could Reach as High as $500,000

By November 26, 2020 No Comments

Key highlights:

  • Macro investor Dan Tapiero outlined his bullish stance on Bitcoin in an interview with Anthony Pompliano
  • According to Tapiero, Bitcoin can reach up to $500,000 if institutions start investing in BTC en masse
  • Tapiero says Bitcoin and gold will likely continue to coexist

Dan Tapiero is bullish on Bitcoin

Macro investor Dan Tapiero predicts that $15 trillion in capital will come to Bitcoin from institutions. If this happens, BTC’s price can go up to approximately $500,000. Tapiero, a famous figure in the gold investing world, believes a six-figure price tag for Bitcoin is probable, and it only needs time to occur. Tapiero shared his thoughts on Bitcoin with Anthony Pompliano on the Pomp Podcast.

Tapiero believes investors should invest in both Bitcoin and gold, even though he thinks Bitcoin is superior to gold for many reasons. However, he also believes in gold’s unique characteristics, and he thinks big institutions can buy gold easier than Bitcoin in the current situation. 

According to Tapiero, the coexistence of Bitcoin and gold will continue. He calls Bitcoin new technology compared to gold. He estimates fiat will remain in the future, and won’t go away soon. In his opinion, Bitcoin is something hard for people to understand, and its full understanding takes time. Tapiero says he thinks gold doubles in the next five years, while BTC could produce a 20x or 30x.

He believes Bitcoin is protection against fiat currencies, and when its market cap is in the trillions of dollars, more significant investors can manage it easily. He thinks BTC has many more advantages than gold, and he is sure about Bitcoin’s better performance in the long run. 

Many analysts are optimistic about BTC, including Off The Chain Capital CIO Brian Estes. He told Reuters that it would not be surprising surprising for Bitcoin to outstrip $100,000 in just one year. He estimates that BTC can go to $288,000 at the end of 2021. 

Jim Cramer, who hosts the popular Mad Money show on CNBC, sees a bright future for BTC as well. Cramer believes Bitcoin offers excellent protection against inflation, and the new generation will understand it well. He thinks the new generation will move away from traditional assets like gold, and they will be more interested in crypto instead.

Crypto is an ever-flourishing technology, and its mass adoption is on the horizon. There are many other bullish predictions regarding Bitcoin’s price action, and we’ve gathered some of the most interesting forecasts in the following article.

Final thoughts 

Bitcoin has significant potential as a new form of money that can revolutionize our financial system. However, diversification is a key in investment. Most investors will also invest in other assets such as equities, gold and real estate. For the Bitcoin market’s long-term growth, it is essential that Bitcoin attracts institutional investors. As Bitcoin is seen as more and more legitimate, many major players are now considering BTC as a good hedge against inflation.