Hedge Fund Founder Shares His Bullish View On “Bitcoin (BTC) Over $100,000”

Key Points:

• The founder of the cryptocurrency hedge fund BlockTower Capital, the price of one Bitcoin might reach $100,000. Paul provided the justifications for his prediction, conscious of how pessimistic they were.
• Bitcoin reaching its double all-time high—roughly $110,000—seems realistic, albeit a difficult, scenario. According to Paul, this aim might even be cautious if financial markets behave in a similarly risk-taking manner as they did in 2021.

By the end of 2024, according to Ari Paul, the founder of the cryptocurrency hedge fund BlockTower Capital, the price of one Bitcoin might reach $100,000. Paul provided the justifications for his prediction, conscious of how pessimistic they were.

Given the macroeconomic environment at the moment, Bitcoin reaching its double all-time high—roughly $110,000—seems realistic, albeit a difficult, scenario. According to Paul, this aim might even be cautious if financial markets behave in a similarly risk-taking manner as they did in 2021.

Therefore, the investor believes that the primary catalyst might be the influx of fiat money as a result of traditional financial institutions like Grayscale’s GBTC trust increasingly extending exposure to the cryptocurrency market.

However, the investor also acknowledges another change in the projection, namely that fresh lows for BTC, possibly even below $12,000, would result in the worst-case scenario when markets experience a recession and the stock market collapses by a third.

Nevertheless, according to Ari Paul’s own remark, BlockTower Capital and himself are both long Bitcoin as of right now. BTC is currently trading at a level last seen in August 2022, $23,400.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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