It has been just revealed that Bitcoin is about to race towards $100k soon. Check out the latest reports about this and a potential timeline below.
Bitcoin races towards $100k
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $37,532.
According to macro expert and fund manager Dan Tapiero, Bitcoin (BTC) has the potential to reach a six-figure price in the near future.
During an interview with Natalie Brunell, Tapiero confidently stated that Bitcoin will surpass $100,000 in the next bull run, indicating a gain of at least 167% from the current level.
He also believes that $100,000 per Bitcoin is a conservative estimate and that the flagship cryptocurrency could continue to rally higher over the next five years.
“My target for when I first started looking at this deeply in 2019 was always around $250,000 to $350,000 on Bitcoin. That was just a number that was to me a reasonable number to get to by 2029. So in 2019, that was sort of my thought by the end of the decade. That’s a reasonable number to get to.”
Bitcoin is trading at $37,459 at time of writing.
Tapiero recently commented on the possibility of Bitcoin reaching a price of $1 million, which is a prediction previously made by Cathie Wood, the CEO of ARK Invest.
He stated that he could also arrive at such figures, but it might take several years, perhaps until 2035 or 2038, or it might even happen earlier.
On Bitcoin’s mainstream adoption as a store of value, Tapiero says the following:
“There are a lot of assets like real estate people invest in often as a store of value. You know, art, paintings, stores of value.
I mean Bitcoin could really take a chunk of that store of value capital that’s out there. People own equity also because it’s a hedge against inflation.
So, if you think of all the assets that people own just because they want to keep up with inflation, you could have a big chunk of that go to Bitcoin. I just don’t think it happens that quickly.”
