Gold industry insider says “no debate” bitcoin will rise 20x. Co-founder of Gold Bullion International, Dan Tapiero claims that it’s only a matter of time before Bitcoin’s (BTC) price rises to the six-figure mark.
Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero asserted that in terms of price appreciation, Bitcoin is 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 predicts that institutional investors and finance whales are likely to spend between 5% and 15% of their portfolios in Bitcoin, adding that the market is currently worth $100 trillion. “That’s a huge chunk. I mean, 15% of $100 trillion is $15 trillion.”
He explained that bitcoin is a hedge for the fiat system 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 “There is no question that Bitcoin is going to outperform gold.”
Other analysts are similarly bullish about Bitcoin. Off the Chain Capital chief investment officer Brian Estes told Reuters today that it “is not a stretch” for BTC to surpass $100,000 in one year, and predicted that it could go as high as $288,000 by the end of 2021.