Equity Management head predicts the death of the dollar and the growth of BTC to $10 million
According to Larry Lepard, cryptocurrency has an advantage over gold due to its limited supply
11.04.2023 - 11:35
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What’s new? The rate of the first cryptocurrency could rise to $10 million as a result of the US dollar crash, and its key advantage over gold will be limited issuance, which will ultimately play an important role in long-term growth. Larry Lepard, the founder and managing partner of the American investment company Equity Management Associates, said this in an interview with Kitco News. In his opinion, bitcoin will face increased volatility and possible pressure from the authorities in the future, but the significant potential of use will not allow the asset to fail.
The full version of the interview
How will the price of BTC change? According to Lepard, the collapse of the dollar will come within ten years, and people, realizing that it is doomed, will gradually move to bitcoin and other scarce assets such as gold and real estate. At the same time, the businessman said that if gold rises in price to $10 000, its production will increase, while once the 21 million BTC issue is reached, no new coins will ever be created, regardless of price changes.
“As more and more people come to [realize they] should save in this form of money, the price is going to go much higher in my opinion. I think we’ll hit $100 000. Then I think we’ll hit $1 million, and I think we’ll ultimately hit $10 million a coin. I’m sure my grandkids will be shocked at people who own one coin. I mean being a whole coiner will be a big deal,” Leopard added.
As of April 11, 11:30 UTC, bitcoin is trading at $30 114, having gained 6,28% in 24 hours and 8,3% in a week.
Earlier, analyst Michaël van de Poppe predictedthe growth of the BTC rate to $50 000 in the coming months. And Ryan Selkis, head of analytics firm Messari, expectsgrowth to $100 000 within a year. He called BTC a “lifeboat” amid the devaluation of the dollar, adding that firms may join the cryptocurrency hoarding faster than regulators ban the asset class.
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