The CEO of Bitcoin (BTC) wallet and payments application Strike, Jack Mallers, is predicting that the flagship crypto asset could hit a seven-figure price.
Mallers says in a new interview with Anthony Pompliano that Bitcoin could soar between 260% and 1,357% in the coming months.
[adinserter block="1"]“I think we’re still so early in the Bitcoin story. I’m publicly on record saying I think Bitcoin hits $250,000 to $1 million in this cycle. So now I’m speaking the next 10 to 18 months.”
Bitcoin is trading at $68,653 at time of writing.
Mallers predicts that the US government will be forced to turn on the money printers to pay the bills on its record-high $34.577 trillion debt. Mallers says that the ensuing currency debasement will provide the catalyst needed to send Bitcoin soaring to his astronomical price target.
“I think people would be willing to pay $250,000 for a Bitcoin based on the mess that I think… I mean, there’s a massive hole and there’s a loss that has to be realized. That loss is going to come through debasing the currency. Asset prices are going to go up and what is the best asset and the best-performing asset? What’s the best money in human history? And so I think that has to be accurately priced.”
The Strike CEO also says that he feels “super confident” about his big price target for BTC.
“People are too fixated on the cost of capital as far as rates. They need to be more fixated on the amount of capital which is they’re still printing dollars. It doesn’t matter that rates are at 5.5% – it’s still inflationary.
And so for those reasons… how am I supposed to predict the most fixed asset in the history of mankind against the biggest f***ed-up problem that central banks have ever had to try and solve? I mean, come on $250,000 to $1 million. I feel super confident about that.”
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