26 Nov 2020 #Bitcoin
Gold Bullion International co-founder Dan Tapiero believes that it’s only a matter of time before Bitcoin’s price surges into the six-figure threshold. Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero asserted that in terms of price appreciation Bitcoin is the king, even though he believes investors should own both gold and Bitcoin:
“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.” He went on to add, “I don’t really think that anyone in the gold world […] they are not going to debate that.”
Tapiero believes that institutional investors and finance whales are likely to invest between five to 15 percent of their portfolios in Bitcoin and noted that sector was currently worth $100 trillion:
“That’s a huge chunk. I mean, 15% of $100 trillion is $15 trillion.”
Bitcoin is a hedge for the fiat system, he explained, and once its market cap is in the trillions of dollars, it will become easier to handle for larger investors, similar to gold. But gold is a store of value, and that is only one aspect of what Bitcoin is. Bitcoin is an entire network, and that’s why he believes it will be much bigger than gold.
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2021 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.