Dan Tapiero, co-founder of Gold Bullion International, believes that it is only a matter of time before the price of Bitcoin soars to six figures.
Tapiero spoke with Anthony Pompliano on the Pomp podcast. He insisted that Bitcoin is the king in terms of price appreciation, although he believes investors should hold both gold and Bitcoin:
“I expect the price of gold to reach US$4,000 in the next 5 years, which means doubling. But if the price of gold reaches US$4,000, the price of Bitcoin may be between US$300,000 and US$500,000, which is an increase of 20 to 30. Times.”
He went on to add: “I don’t think everyone in the golden world will argue about this issue.”
Tapiero believes that institutional investors and whales may invest 5% to 15% of their portfolio in Bitcoin. He pointed out that the current value of this part of the portfolio is $100 trillion:
“This is a large sum of money. I mean 15% of the $100 trillion, or $15 trillion.”
He explained that Bitcoin is a hedging tool in the fiat currency system. Once its market value reaches trillions of dollars, it will, like gold, make transactions easier for larger investors.
But gold is a store of value, and this is just one aspect of Bitcoin. Bitcoin is a complete network, which is why he believes that the value of Bitcoin will be much greater than that of gold:
“There is no doubt that Bitcoin will outperform gold.”
Other analysts are also bullish on Bitcoin. Brian Estes, Chief Investment Officer of Off the Chain Capital, told Reuters today that it is “not difficult” for Bitcoin to exceed $100,000 in one year, and it is expected that the price of Bitcoin may increase by the end of 2021. Rose to 288,000 US dollars.
CNBC host Jim Cramer is also optimistic about the future of Bitcoin, as he revealed to Pompliano in another podcast. Cramer, who was skeptical of Bitcoin in the 2017 bull market, recently stated that he has realized that Bitcoin is a good inflation hedging tool, and his children also know Bitcoin.
“I think my children will not be interested in gold after inheriting my inheritance, but will feel comfortable with cryptocurrency.”
