Dan Tapiero also shared insights into his bullish Bitcoin price prediction emphasizing on the cryptocurrency’s role as a monetary network and immutable, distributed ledger.
Bitcoin has been flirting around $37,000 levels for a while and has left investors confused over what could be its next direction. Long-term investors continue to stay bullish over its future. Some believe that there’s no better time than today to be bullish about BTC since the first spot Bitcoin ETF shall be coming to the US in early January 2024. In a recent interview with TheStreetCrypto’s Natalie Brunell, prominent macro investor Dan Tapiero shared his optimistic outlook on Bitcoin’s potential price gains in the near future.
Tapiero, who oversees more than $1 billion in investments as the founder, CEO, CIO, and managing partner of 1Rountable Partners and 10T Holdings, projected Bitcoin’s value to surpass $100,000 in the upcoming bull run, extending into 2025.
Tapiero based his estimate on the belief that Bitcoin is increasingly becoming an attractive store of value, poised to attract significant capital from traditional assets. He emphasized the vast potential within the total global wealth, estimated at around $500 trillion, with even a modest 5% allocation amounting to $25 trillion. Tapiero highlighted assets like real estate and art, often considered stores of value, asserting that Bitcoin could capture a substantial portion of the capital dedicated to such assets.
Tapiero underscored Bitcoin’s fixed supply as a key factor contributing to its potential surge. With a limited supply, any significant increase in its market capitalization would drive up the price of each individual unit. Therefore, a projected $25 trillion boost in Bitcoin’s overall market cap could have a profound impact on its dollar price, aligning with Tapiero’s optimistic forecast for the cryptocurrency’s future trajectory.
Bitcoin Price Target by 2025
Furthermore, macro investor Dan Tapiero also shared insights into his bullish Bitcoin price prediction for 2025. Besides, he emphasizes the cryptocurrency’s role as a monetary network and immutable, distributed ledger.
Tapiero’s optimism stems from his intellectual exploration of Bitcoin’s functionalities, revealing its ability to address issues associated with centralized financial intermediaries. Recognizing Bitcoin’s potential as a superior store of value, he anticipates that investors will increasingly view it as such.
Tapiero highlighted the strength of Bitcoin’s distributed network and its decentralized, global nature. His realization that no central authority controls the network led him to conclude that “everything of value will eventually be put on this network”. This perspective underscores the growing recognition of Bitcoin’s utility and resilience, positioning it as a key player in the evolving financial landscape.
At press time, Bitcoin is trading 1.10% up at $37,396 with a market cap of $731 billion.
next