Dan Tapiero, co-founder of Gold Bullion International, believes it is only a matter of time before the price of Bitcoin hits the six-digit threshold.
Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero stated that Bitcoin was king in terms of price spikes, despite believing that investors should own both gold and bitcoin:
“For the next five years, I see gold at $ 4,000. So that’s twice that.” But when gold is at $ 4,000, Bitcoin is likely between $ 300,000 and $ 500,000. So that’s 20 to 30 times that. “
He added, “I don’t really think anyone is in the gold world […] They won’t discuss that. “
Tapiero estimates institutional investors and financial whales are likely to invest between five and 15 percent of their portfolios in Bitcoin, noting that the sector is currently valued at $ 100 trillion:
“That’s a huge part. I mean, 15 percent of $ 100 trillion is $ 15 trillion.”
Bitcoin is a hedge for the fiat system, he explained, and once the market cap is in trillions of dollars, it will be easier for larger investors to work with, much like gold.
But gold is a store of value, and that’s just one aspect of Bitcoin. Bitcoin is a whole network, and that’s why he believes it will be a lot bigger than gold:
“There is no question that Bitcoin will outperform gold.”
Other analysts are similarly optimistic about Bitcoin. Brian Estes, chief investment officer of Off the Chain Capital, told Reuters today that it would be “not a challenge” for BTC to go over $ 100,000 in a year and forecast it could go as high as $ 288,000 by the end 2021.
CNBC host Jim Cramer also believes in the future of Bitcoin, as shown by another podcast with Pompliano. Cramer, who was a bitcoin skeptic during the 2017 bull market, recently stated that he has now realized that bitcoin is a good hedge against inflation and also one that his children can understand:
“I think that when my children get my inheritance, they will not be comfortable with gold and will be comfortable with crypto.”