Macro guru and fund manager Dan Tapiero expresses optimism regarding the potential for Bitcoin (BTC) to reach a six-figure price in the future. In a recent interview with Natalie Brunell, Tapiero confidently asserts that he anticipates Bitcoin surpassing the $100,000 mark during the next bull run.
Achieving a price of $100,000 per Bitcoin would represent a substantial increase of at least 167% from its current valuation. According to Tapiero, this estimate is relatively conservative, and he believes that the flagship cryptocurrency could experience even greater gains over the next five years.
"When I first began delving into this in-depth in 2019, my target was always in the range of $250,000 to $350,000 for Bitcoin. This seemed like a reasonable goal to me to achieve by 2029. So, in 2019, that was my perspective for the end of the decade, which I considered a feasible target," Tapiero explains.
At the time of writing, Bitcoin is trading at $37,459.
Regarding the possibility of Bitcoin reaching a price of $1 million, a prediction previously made by ARK Invest CEO Cathie Wood, Tapiero acknowledges that such a milestone is within the realm of possibility. However, he suggests that it may occur later, possibly around 2035 or 2038, or even earlier.
Tapiero also comments on Bitcoin's growing acceptance as a store of value, noting that people often invest in assets such as real estate, art, and precious items for this purpose. He believes that Bitcoin has the potential to capture a significant portion of the market for store of value assets, particularly those acquired as protection against inflation. However, he cautions that this transition may not happen as rapidly as some expect.
