Bitcoin to hit $300,000 to $500,000 in massive price breakout, according to macro guru Dan Tapiero – here’s why
Macro investor and fund manager Dan Tapiero is doubling down on his prediction that Bitcoin (BTC) will rise to as high as $500,000.
In a new interview with Scott Melker, Tapiero says he named his crypto investment fund 10T after his prediction in 2019 that the total market capitalization of cryptocurrencies would increase 30 times and reach a market cap of $10 trillion.
He says he still believes in his prediction and that Bitcoin’s value will range between $300,000 and $500,000 when the total market cap reaches $10 trillion.
– The point of view I have had since the foundation of the fund was that the value in the space, which in the middle of 1919 was 300 billion dollars, should increase 30 times and reach 10 trillion dollars. And that’s why I called the first three funds, they were called 10T, which stood for $10 trillion.
So I set my sights on the growth of the space in the name of that fund. And so it was 30x that I referred to. A $10 trillion digital asset ecosystem value, based on the way I look at it, puts Bitcoin between $300,000 and $500,000, which has been where I think it’s going to end up. I thought so in ’19. I think so now.”
He now calls his prediction conservative and believes it will rise even higher.
“And again, the markets will get to where they’re going to get to on their own schedule, on their own time and plan. I think $10 trillion is probably a little too conservative right now. We’re at [ $1.28 trillion] today and a year ago we were [$3 trillion]. I think we will be over $10 trillion in 10 years.”
Bitcoin is trading at $29,991 at the time of writing, down 0.9% in the last 24 hours.
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