Dan Tapiero stands as the co-founder of Gold Bullion International, and is convinced that Bitcoin’s price will surge into the six-figure region. To Tapiero, it’s all just a matter of time.
Bitcoin Greatest In Price Appreciation
Tapiero said this on the Pomp Podcast, speaking to Anthony “Pomp” Pompliano. He asserted that Bitcoin is king when it comes to price appreciation. Even so, Tapiero was quick to assert that investors need to have holdings in both Bitcoin as well as gold.
In a statement, Tapiero speculated to see gold be traded at $4,000, which is double its current price, but had a far more bullish idea for what will happen to Bitcoin.
In Tapiero’s statement, he speculated that Bitcoin would probably rise by 20 to 30 times its current price, being traded for anywhere between $300,000 and $500,000 apiece.
Potential Of Another $15 Trillion In Crypto Industry
Tapiero went as far as claiming that anyone with their ears to the ground in the gold industry won’t refute these claims in the slightest.
Alongside this, Tapiero is convinced that institutional-level investors, including finance whales, are starting to become more likely to invest their holdings into Bitcoin. Tapiero speculated for anything between 5% to 15% of their portfolio will be allocated to Bitcoin.
He made further note of the total value of the sector, saying it’s worth $100 trillion. This would mean that anything from $5 trillion to $15 trillion in Bitcoin could be shuffled into Bitcoin, which would severely increase the space’s market cap.
Tapiero explained why Bitcoin is gaining so much traction, highlighting the simple fact that Bitcoin stands as a hedge against fiat. Furthermore, Tapiero explained that larger investors would have an easier time handling the cryptocurrency once the market cap goes past the trillion-Dollar mark, much like gold.
Many Bullish For BTC
However, Tapiero was quick to note that gold and Bitcoin aren’t the same. While gold can be used as a store of value, that’s all it is. Bitcoin, however, has multiple facets to it, consisting of an entire network. As such, Tapiero has no donuts that Bitcoin will eventually outperform gold overall.
Similar bullish sentiments for Bitcoin can be seen by a large number of analysts, as well. Brian Estes stands as the Chief Capital Investment Officer of Off the Chain Capital, and told Reuters today that Bitcoin’s probability of reaching past the $100,000 mark isn’t as much a stretch as one might think. In fact, Estes predicted that the original cryptocurrency could go as far as $288,000 by the end of 2021, just a single year from now.