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November 25, 2020 at 08:37AM
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.
‘No debate’ that Bitcoin will increase 20X says gold industry insider, CoinTelegraph, Nov 25
From: The FxPro News Team https://fxpro.news/daily-forex-outlook/no-debate-that-bitcoin-will-increase-20x-says-gold-industry-insider-20201125/
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