Renowned macro guru and CEO of growth equity fund 1RoundTable Partners, Dan Tapiero, envisions a bullish future for Bitcoin, predicting a surge beyond $100,000 in the coming years. This optimistic outlook, while conservative, suggests the potential for even greater gains within the next five years.
In a recent interview, Tapiero emphasized the notable shift in the digital asset landscape, with traditional retail and financial giants increasingly embracing the sector. He stated:
“My target for when I first started looking at this deeply in 2019 was always around $250,000 to $350,000 on Bitcoin.”
Dan Tapiero Bitcoin Predictions
Notably, this belief was a bold projection for the end of the decade. The current phase, according to him, represents an “adoption cycle,” evident by growing interest and investments in protocols.
Addressing Bitcoin’s potential to reach $1 million, as predicted by ARK Invest CEO Cathie Wood, Tapiero acknowledges the possibility but suggests it might occur around 2035 or 2038, emphasizing uncertainty in the timeline. He stated:
“I think Cathie has come out and said… Did she say a $1 million [Bitcoin price target]? And I can get to those numbers too. But that might be; maybe it’s 2035 or 2038. I mean, I don’t know. Or it could be earlier.”
A Major Shift of Capital Towards Bitcoin
On Bitcoin’s role as a store of value, Tapiero sees it competing with traditional assets like real estate and equity as a hedge against inflation, foreseeing a gradual shift of capital towards bitcoin.
Tapiero, known for his macro insights, pointed out this important shift in the digital asset market, with major traditional retail and financial companies embracing the sector. He emphasized the transformation in how value is perceived and exchanged, pointing to major companies such as Adidas, LVMH, and Nike exploring the integration of non-fungible tokens (NFTs).
Optimistic Bitcoin Community
Recent market trends align with Tapiero’s positive outlook, with Galaxy Digital forecasting a 74% Bitcoin price surge post-potential Exchange Traded Fund (ETF) approval. Algorithmic models predict a target of $137,400 by the end of 2025.Tapiero’s positive forecast is also echoed by BitMEX co-founder Arthur Hayes on social platform X. He predicts increased dollar liquidity, buoying the BTC price.
The Bitcoin community remains confident in BTC’s long-term growth story, anticipating further gains in the evolving landscape. Despite the optimism, caution is urged by traders like Doctor Profit. He emphasized the importance of BTC maintaining a price above the 20-day simple moving average of $36,287 to avoid a potential retracement to $33,000.
As of the latest update, Bitcoin is trading at $37,465, reflecting a marginal 24-hour decline of -0.91% but a 2.38% increase over the past week. With a circulating supply of 20 million BTC, its market cap stands at around $739 billion.