Bitcoin (BTC) is on monitor to hit a large $2 million inside six years, asset administration guru Lawrence “Larry” Lepard believes.

In his newest look on the Quoth the Raven podcast Oct. 16, Lepard mentioned that BTC/USD may “simply” deliver 100X returns from present costs.

Lepard: “I personally imagine Bitcoin’s going to go up 100X”

With Bitcoin in a downtrend for nearly a yr, bullish BTC worth predictions are few and much between.

Lepard, already recognized for his optimism on each Bitcoin and treasured metals, has grow to be one of many lone voices forecasting a seven-figure BTC price ticket within the present surroundings.

In his podcast look, the Fairness Administration Associates founder revealed that he’s nonetheless dollar-cost averaging into BTC — shopping for a hard and fast quantity each week, whatever the worth.

He additionally views it as a “danger” to not personal BTC as a hedge in what he calls a “sovereign debt disaster.”

“I’m not suggesting anybody ought to take all of their cash and dump it into this stuff, however what I’m suggesting very strongly is that anybody who doesn’t have some place in this stuff is taking extra danger than they should take due to the upside optionality,” he defined:

“Bitcoin may go to zero however I personally imagine Bitcoin’s going to go up 100X.”

Requested whether or not he, due to this fact, agreed {that a} single Bitcoin may find yourself being price $2 million — 100 occasions greater than the present spot worth — Lepard didn’t hesitate.

“Yeah, simply, simply,” he replied, setting the timeframe for the positive aspects to materialize as 5 or 6 years.

Lepard added that the following macro high for BTC/USD needs to be as much as $200,000, adopted by one other 70% drawdown.

That prediction is roughly in step with one other worth foundation rising in latest days, placing the following cycle’s bear market backside at $35,000.

BTC/USD traded at round $19,600 on the time of writing, knowledge from Cointelegraph Markets Professional and TradingView confirmed, having hit one-week highs on the day

$14,000 bolstered as purchase zone

Lofty views on BTC worth efficiency are traditionally nothing new to the area, however few have ended up coming true.

‘Prepare’ for BTC volatility — 5 issues to know in Bitcoin this week

Amongst these but to be vindicated are serial investor Tim Draper, who even just lately remained assured about Bitcoin reaching $250,000 in 2022 or early 2023.

In April, Cathie Wooden, CEO ofARK Funding Administration, doubled down on a $1 million BTC goal.

Previous to that, in the meantime, Tom Lee, co-founder of Fundstrat International Advisors, maintained the agency’s $200,000 BTC worth goal regardless of the bear market already knocking.

Nearer to dwelling, in the meantime, $14,000 has grow to be a preferred draw back goal, one which Lepard himself shares.

He mentioned that he would “again up the truck” ought to BTC/USD attain that degree.

The views and opinions expressed listed below are solely these of the creator and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer entails danger, it is best to conduct your personal analysis when making a choice.