Dan Tapiero talked to Anthony Pompliano about the fact that 15 trillion US dollars are to flow into Bitcoin. This could push the price up to 500,000 US dollars.
Gold Bullion International co-founder Dan Tapiero believes it is only a matter of time before the Bitcoin (BTC) price climbs into the six-digit range.
In a conversation with Anthony Pompliano in the Pomp Podcast, Tapiero claimed that Bitcoin is king when it comes to price increases. However, he believes that investors should own gold and Bitcoin:
„Over the next five years, I can imagine gold reaching $4,000, double that. But if gold is at $4,000, then Bitcoin is probably somewhere between $300,000 and $500,000. That would be 20 to 30 times that.“
He added: „I don’t think anyone in the gold industry would dispute that.“
Tapiero believes that institutional investors and financial whales are likely to invest between 5 and 15 percent of their portfolios in Bitcoin. He explained that the sector is currently investing 100 trillion US dollar:
„This is a huge Chunks. I mean, 15 percent of 100 trillion. US dollars is 15 trillion. US dollars.“
Bitcoin is a hedge for the Fiat system, he said. Once its market capitalisation reaches trillions, it will be easier for larger investors to handle, similar to gold.
But gold is a store of value. That is only one aspect of Bitcoin. Bitcoin is a whole network. That is why he believes it will be much bigger than gold:
„There is no question that Bitcoin will overtake gold.“
Other analysts are similarly optimistic about Bitcoin. Brian Estes, the investment manager of Off the Chain Capital, told Reuters that it would be „not far-fetched“ to say that BTC would climb over $100,000 in a year. He predicted that it could climb to as much as $288,000 by the end of 2021.
CNBC presenter Jim Cramer also believes in a rosy future for Bitcoin, as another podcast with Pompliano shows. Cramer, who was a Bitcoin sceptic during the bull run in 2017, recently stated that he has since realised that Bitcoin is a good hedge against inflation. Bitcoin is also something that even his children can understand:
„I think that if my children received my inheritance, they would not feel comfortable with gold. But they would be comfortable with crypto.“