Dan Tapiero told Anthony Pompliano that US$15 trillion in institutional capital could flow into Bitcoin, raising the price to US$500,000.
No discussion,‘ Bitcoin will increase 20-fold, says gold industry expertNOTÍCIAS
Gold Bullion International co-founder Dan Tapiero believes it is only a matter of time before the price of Bitcoin (BTC) reaches the six digit level.
Speaking to Anthony Pompliano at Pomp Podcast, Tapiero said that in terms of price appreciation, Bitcoin is king, although he believes investors should own both gold and Bitcoin:
„In the next five years, I can see gold at $4,000, so that’s double. But if the gold will be at $4,000, Bitcoin will probably be somewhere between $300,000 and $500,000, so that’s 20, 30x. more“.
He added: „I really don’t think anyone in the world of gold […] is going to question that“.
Tapiero believes that institutional investors and whale financiers are likely to invest between 5% and 15% of their portfolios in Bitcoin, and noted that the sector is currently worth $100 trillion:
„That’s a huge chunk. That is, 15% of US$100 trillion is US$15 trillion. ”
Bitcoin is a protective asset against the trust system, he explained, and once its market value is in the trillions of dollars, it will be easier to deal with larger investors like gold.
But gold is a store of value and that is Bitcoin Up just one aspect of Bitcoin. Bitcoin is a whole network, which is why he believes that BTC will be much bigger than gold:
„There is no doubt that Bitcoin will outgrow gold.“
Other analysts are equally optimistic about Bitcoin, with Off the Chain Capital’s investment director Brian Estes telling Reuters on Tuesday that „it is no exaggeration“ for BTC to exceed $100,000 in one year. He also predicted that BTC could reach $288,000 by the end of 2021.
CNBC presenter Jim Cramer also believes in Bitcoin’s future, as revealed in another podcast with Pompliano. Cramer, who was a bitter sceptic about Bitcoin during the 2017 high market, said recently that he has since realized that Bitcoin is a good protection against inflation and also one of his children can understand:
„I think my children, when they receive my inheritance, will not feel comfortable with the gold and they will feel comfortable with the cryptomeda.