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Bitcoin’s Path To $1 Million, According To Tapiero
Tapiero pointed out that while Bitcoin has huge potential, there is still a wide gap in the adoption of the world’s oldest and largest crypto asset. Bitcoin, often touted as digital gold, has not been completely adopted and recognized by the traditional financial systems worldwide, subsequently slowing the pace of its growth and value.
The investor remarked that gold was similarly sidelined as a monetary asset after the United States left the gold standard in the 1970s. Nonetheless, the yellow metal has now regained its role as the go-to safe haven and inflation hedge.
Tapiero noted that central banks of various advanced economies are diversifying into gold amid deteriorating fiscal outlooks. “Physical Gold is only being re-monetized for real now,” he opined.
A recent Bloomberg report claims that China plans to become a custodian of foreign sovereign gold reserves as the nation strives to reduce its dependence on the U.S. dollar and bolster its own asset reserves.
 
Bitcoin, however, has yet to secure a place on central banks’ balance sheets, limiting its role as a reserve asset.
But Tapiero thinks the OG crypto is currently undergoing a gold-esque growth path after only 15 years of existence, and is still in its early stage of adoption. He asserts that once traditional finance begins to utilize Bitcoin as a core monetary asset, its value will experience a monumental surge. He expects BTC to be worth $1 million by 2035, with a market value of $20 trillion.
Based on his analysis, this is not unattainable given that even at that sky-high figure, BTC will account for just 2% of all global assets, which could have reached a staggering $1 quadrillion by then.