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Bitcoin Price Could Reach $500,000, Says Veteran Macro Investor

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Bitcoin Price Could Reach $500,000, Says Veteran Macro Investor Blockchain, Featured, Home CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Dan Tapiero, co-founder of Gold Bullion International, has recently stated he believes the price of bitcoin will outperform gold and surge into six-figure territory over the next few years.

During an interview with Anthony Pompliano on the Pomp Podcast, Tapiero claimed that while he believes investors should both gain exposure to gold and bitcoin, the flagship cryptocurrency is going to outperform the precious metal. He predicted it will be trading between $300,000 and $500,000” in the next five years, saying:

In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is probably somewhere between $300,000 and $500,000, so that’s a 20, 30x.

Tapiero added that he doesn’t believe anyone in “the gold world” would debate that price prediction, noting he believes institutional investors and other large players will allocate between 5% and 15% of their portfolios into BTC.

Per his words, about $15 trillion could flow into the cryptocurrency space in the future thanks to institutional investors. The cryptocurrency space’s total market cap, it’s worth noting, is now at $581 billion with the price of bitcoin being above $19,000.

As Cointelegraph reported, Tapiero noted that gold is a store of value while Bitcoin is a network, which means there is “no question that Bitcoin is going to outperform gold,” he said.  The veteran macro investor’s words come as the price of BTC approaches a new all-time high.

Other analysts have also been making bullish predictions. Recently, CNBC’s Jim Cramer said it is not too late to buy bitcoin, despite being a skeptic back in 2017. In a recent tweet, Cramer claimed the cryptocurrency is going to hit $20,000 by the end of the year.

As reported, popular Bloomberg analyst Mike McGlone recently said he believes the price of bitcoin could add a “zero to the back of the number” to hit six digits by 2022. Speaking to Reuters the chief investment officer at Off the Chain Capital hedge fund Brian Estes said he sees bitcoin going up significantly in the near future to trade between $100,000 and $288,00 by the end of next year.

Featured image via Unsplash.

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