Dan Tapiero, co-founder of Gold Bullion International, is convinced that bitcoin’s price will soar to between $300,000 and $500,000.
During an interview with Morgan Creek’s Anthony Pompliano on the Pomp Podcast, Tapiero said bitcoin will appreciate much faster than gold, but stressed that investors should have both in their portfolios.
“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 said, adding, “I don’t really think that anyone in the gold world [is] going to debate that.”
Tapiero thinks institutional investors and high-net-worth individuals will allocate 5%-15% of their portfolios to the top crypto.
He believes bitcoin, a hedge against currency devaluation caused by excessive money printing, will become increasingly attractive to big institutional investors as the market cap, currently around $350 billion, grows into the trillions.
He believes it will succeed because in addition to being a store of value, it is a decentralized monetary network: “There is no question that bitcoin is going to outperform gold.”