Bitcoin and cryptocurrency prices have recovered in recent weeks, climbing from February lows even as the crash triggers a serious Coinbase warning.
The bitcoin price has broken back above $40,000 per bitcoin as traders welcome the Federal Reserve’s steady approach to raising rates and despite the looming threat of increased regulation. Ethereum, BNB, XRP, solana, cardano have also rallied, with recent challengers Terra’s luna and avalanche making outsized gains.
Now, one veteran commodities investor turned bitcoin bull has predicted the bitcoin price could soar to $200,000 in just five years—pointing to a “compounding effect” that could drive momentum.
Want to stay ahead of the bear market and understand what Fed interest rate hikes mean for crypto? Sign up now for the free CryptoCodex—A daily newsletter for crypto investors and the crypto-curious
The bitcoin price has lost almost half its value since its 2021 peak, dragging on ethereum, BNB, … [+]
Getty Images
“It’s hard to know where bitcoin’s price will be at, say, the end of the year,” Greg Beard, a superstar energy investor who made a name for himself buying and selling oil and gas companies at Apollo Global Management, told Fortune. “But if you’re a fundamental-style investor that believes in bitcoin as a store of value, it should be worth multiples of today’s price in five years, I’d say at least five times.”
Beard’s bitcoin price prediction puts bitcoin at $200,000 by the spring of 2027 and he expects interest in crypto to snowball as inflation continues to erode the U.S. dollar and other traditional currencies. “The better bitcoin does, the…
