Hedge fund manager James Lavish he predicted that Bitcoin could rise to $428,000 at some point. He also mentioned what needs to happen for the flagship cryptocurrency to reach such an ambitious price target.
How Bitcoin Could Rise to $428,000
Lavish mentioned in X (formerly Twitter) fasting This Bitcoin to rise to $428,000 when it becomes 1% of the $900 trillion of investable assets worldwide. The hedge fund manager made this prediction, revealing that Bitcoin, at its current price, only accounts for 0.15% of the capital in those investment assets.
The idea is that BTC will be widely adopted to such an extent that most of the global liquidity will be poured into its ecosystem. Such inflow of up-to-date money would undoubtedly trigger a massive rally in the cryptocurrency market, considering how much valuable assets like gold are currently worth thanks to their liquidity.
Interestingly, crypto expert and bitcoin maximalist Mark Harvey had previously shared similar view to Lavish. Harvey predicted that Bitcoin could soar to $415,000 if it captured 1% of global assets. In the meantime, he made an ultra-bullish case for Bitcoin, predicting that it could soar to $17 trillion if it managed to capture most of the asset class’s monetary premium.
The asset classes in question include gold, silver, stocks, real estate, fiat money, and bonds. Harvey argued that Bitcoin could steal a huge chunk of global investment from these other assets as the flagship cryptocurrency becomes most preferred option so people can keep their money. The crypto expert also described Bitcoin as a “better form of ownership” than the others.
Indeed, one could argue that BTC is better than all other assets, given how it has outperformed the classic market over the past 14 years. NewsBTC recently reported that digital assets, led by BTC, have been the best-performing assets in 11 of the last 14 years. Bitcoin is once again outperforming these classic assets, up over 50% year-to-date (YTD).
BTC may be well on its way to becoming “1%”
Bitcoin is undoubtedly enjoying increasing popularity in this market cycle, especially with the launch Spot Bitcoin ETFwhich are available not only in the United States but also in other countries such as Hong Kong AND AustraliaThanks to these investment funds, Bitcoin has attracted the attention of more institutional investors who are increasingly inclined towards the flagship cryptocurrency.
Bitcoin will continue to enjoy impressive liquidity flows in its ecosystem as more and more institutional investors become bullish. Furthermore, Bitcoin is being touted as ‘digital gold‘ has made it more attractive to investors because this narrative presents it as a better option than gold. This has led to predictions that Bitcoin could surpass gold’s $16 trillion market capitalization.
Meanwhile, it is worth mentioning that governments around the world could also play a huge role in Bitcoin’s meteoric rise as they begin to adopt the flagship cryptocurrency as a reserve asset. A country like Savior is on track, and the United States may join soon, Donald Trump promising to create a strategic national bitcoin reserve if elected.
Featured image created with Dall.E, chart from Tradingview.com
