Prominent macro investor and asset allocator Dan Tapiero says he believes a staggering $7 trillion is set to pour into Bitcoin and the crypto asset ecosystem at large.
In a new interview on The Wolf of All Streets, Tapiero explains why he is optimistic that the digital asset landscape will balloon in the years ahead.
“I think that what this really is, is a new asset class, and I think the way that you can think about it is if you think about something like the mortgage-backed market in 1980 or 1982. A nascent market, very early stage, I think it’s still early.”
The co-founder of digital asset equity fund 10T Holdings says that the fund is inspired by the idea that the crypto space will see explosive growth.
“When I founded this fund, the digital asset ecosystem had a $300 billion value. And that is Bitcoin, Ethereum, all the crypto, and all the equity value in the space was about 300, and I said to myself, ‘I think we can do 30x in 10 years.’
So that’s why I called the fund 10T. 10T is 10 trillion [dollars] in 10 years. And what’s happened is that I’ve been wrong, I’m gonna be wrong, because we’re at 3T today and [my prediction was] just two years ago. So we’re probably going to do a lot more than, you know, a 3x 17 more in the next eight years.”
Tapiero also compares crypto with other early-stage markets such as the US treasury bond options in 1979 that saw astronomical growth during the 1980s and 1990s.
“This has been even greater. Bitcoin has gone up 200% annualized for 11 years. It’s the greatest return of any asset in the world. It’s like, people who are doubters, I get the first five or six years, but it’s already proven itself.”
IDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/aurielaki