Bitcoin, to infinity and beyond! – The predictions on the price of Bitcoin (BTC) follow one another and are similar in their optimism. But this time, billionaire Raoul Pal is still going a little hard. He imagines a 7-digit BTC in dollars within 5 years.
Nearly 9,000% increase for Bitcoin by 2025?
After having been a hedge fund manager , Raoul Pal founded his own hedge fund, Global Macro Investor , of which he is the current CEO.
The billionaire is very confident about the future of Bitcoin Storm. He’s already started converting 50% of his assets into BTC, and that only seems like the start from his interview with Stansberry Research:
“I reduced the cash and converted it to bitcoin. I am also thinking of selling my gold to buy more BTC (…). I have nothing against gold, but (…) if bitcoin starts to emerge from the graphic patterns it has formed, it will massively outperform gold. I am 100% sure of it. So, in that case, why would I have positions in gold? ”
According to Raoul Pal, it is indeed a real institutional money tsunami that will land in the cryptosphere, and in Bitcoin in the first place:
“(…) I think $ 1 million is about a fair price [for 1 BTC]. From what I know of all the institutions and all the people I talk to, there is a huge amount of money that will go into there (…). ”
Bitcoin at over $ 170,000 in 5 years, a more realistic forecast?
Obviously, even if some have clearly exaggerated the deadlines for the BTC to reach such sums – special dedication to John McAfee who had foreseen it at the end of 2020 -, a more “reasonable” explosion in valuation is not possible. – not be so far-fetched as it seems in the long run .
In addition to the very likely devaluation of the dollar – because of the printing press and inflation – which would mechanically increase the greenback rating of bitcoin, the institutional factor is being studied very closely and very seriously.
Thus, in an interview with The Block, Yassine Elondjra , analyst of the ARK Invest fund , explains that the total valuation of Bitcoin could reach $ 3 trillion by 2025 .
With a current market cap hovering around 200 billion , that would give us a nice 1,400% increase, or a BTC at 170,000 dollars or so.
“(…) We have really tried to examine the liquidity and volume profile of Bitcoin relative to other asset classes (…) to see if it can support the institutional flow that we envision (…) we think so that over the next five years, Bitcoin presents an opportunity of trillions (trillions) of dollars ”- Yassine Elondjra
A million, 170,000 or even just 20,000 dollars (its former high)? The future price of BTC of course remains an unsolved mystery. In any case, enthusiasm for Bitcoin does not seem to be lacking among billionaires and institutional fund specialists, which is already a good thing.