That the price of Bitcoin (BTC) will reach a million dollars by 2025 is “more or less correct”.confirmed the founder and CEO of Real Vision, Raoul Pal.
In an interview with Stansberry Research last week, Pal, famous for his optimistic stance on Bitcoin, said that a “huge amount of money” would pour into the cryptocurrency in the years to come.
Pal: Bitcoin is facing “huge” capital inflows
“I think that’s right whether it’s five or six years,” he said when asked about the $ 1 million goal.
“We’re going to go through two of those halving cycles and based on what I know about all the institutions, all the people I speak to, there is a huge amount of money going into this one. It’s a huge bunch of money, just the gateways aren’t there yet to get people to do it, and it’s coming, but it’s on every radar screen and there are a lot of smart people working on it.[.]””
Bitcoin’s current halving cycle began in May 2020 and will last approximately four years. Beyond Pal, a whole range of analyzes is examining the effects of halving, which reduces the supply of new bitcoins per block by 50% and makes consistently bullish predictions.
Only this week, PlanB, inventors of the ‘stock-to-flow’ family of Bitcoin pricing models, confirmed that the BTC / USD pair was an order of magnitude on the right track after May.
In terms of the “money pile,” Bitcoin corporate purchases continue to appear this month, Cointelegraph reported.
“I think it won’t be because the world is collapsing. it’s because there will be adoption by the big capital funds “Pal summarized.
“Why should I have a gold allotment?”
Pal also announced that because of his superior performance, he would try to sell his gold investments and convert them to bitcoin.
While gold wasn’t “rejected” for now and invested in either asset, the future was clearly skewed in favor of Bitcoin., He said.
“… when you get to the macro opportunity, when it all happens, Bitcoin starts to break these patterns it formed, it will far outperform gold, I’m 100% sure of which Case why should I have one? Gold allotment? “
6-month chart of Bitcoin vs. Gold. Source: Skew
Here, too, Pal is not alone. As Cointelegraph noted Analysts, including statistician Willy Woo, have predicted that Bitcoin will deviate from traditional asset correlation to find its own way. The schedule is unclear, but last month Woo expected it to happen “soon”.
According to a new report from crypto index backer Stack Funds this week, the BTC / USD pair will be supported to $ 15,000 after the US election in November.