A Bitcoin at $ 500,000 that puts misery in gold, it doesn’t matter: the reasons for a possible explosion
Half a million for Bitcoin? – Gone are the days when those who advertised a bitcoin (BTC) at 100,000 dollars were regarded as sweet dreamers, now that the fashion is rather to estimate it at 500,000 dollars! In any case, this is the forecast of two investment funds, which are considering this target for two related reasons. Explanations!
This CEO predicts that Bitcoin has everything to match gold
Eric Peters is the co-founder and current head of the One River Asset Management fund , which already has over $ 1 billion in Crypto Bank under his management .
In an interview with Bloomberg, the CEO discusses the incredible potential of Bitcoin . He is indeed deeply concerned about the deplorable state of the global economy, with governments becoming „extremely indebted“ with their unbridled monetary policy.
In the eyes of Eric Peters, Bitcoin and digital assets have unique qualities , some of which „resemble the qualities found in gold“ . Except that they are „considerably undervalued“ compared to other stores of value like gold. Which makes the CEO of One River say that:
“If [Bitcoin] were content to increase its capitalization even if only to the level of the gold market (…), it would reach a price of around $ 500,000 per bitcoin. “
For the head of the investment fund, the limited supply of 21 million Bitcoin units is a unique quality. Because whatever the price or the demand, „there will be no more bitcoins produced“ than what its code, designed by Satoshi Nakamoto provides.
ARK Invest experts also see BTC at $ 500,000
Almost at the same time as Eric Peters‘ statements, analysts at investment firm ARK produced a report whose conclusions on Bitcoin’s price are equally optimistic .
Indeed, as we can see on page 50 of this report (below), if institutional investors on the planet invested just 6.5% of their portfolio in Bitcoin, the latter would be propelled up to to $ 500,000 .