That the price of Bitcoin (BTC) reaches a million dollars by 2025, is “more or less correct”, confirmed Real Vision founder and CEO Raoul Pal.
In an interview with Stansberry Research Last week, Pal, famous for his bullish stance on Bitcoin, said that a “huge amount of money” would flow into the cryptocurrency in the next few years.
Pal: Bitcoin is lined up for “huge” capital inflows
“I think that’s right, whether it’s five or six years,” he said when asked about the $ 1 million target.
“We’re going to go through two of these halving cycles, and just from what I know of all the institutions, all the people I talk to, there’s a huge amount of money going into this. It’s a huge pile of money, just the gateways aren’t there to let people do it yet, and that’s coming, but it’s on everyone’s radar screen and there are a lot of smart people working on it.[.]”
Bitcoin’s current halving cycle started in May 2020 and will last approximately four years. Beyond Pal, a whole sphere of analysis looks at the impact of halvings, which reduce the supply of new available Bitcoins per block by 50% and make consistently bullish predictions.
Just this week, PlanB, creator of the ‘stock-to-flow’ family of Bitcoin price models, confirmed that the BTC / USD pair was on track to rise by an order of magnitude after May.
In terms of the “money pile”, meanwhile, corporate purchases of Bitcoin continue to appear this month, reported Cointelegraph.
“I think it won’t be because the world is collapsing; it is because there will be an adoption by large capital funds “Pal summarized.
“Why would I have a gold allocation?”
Pal also revealed that he would be looking to sell his investments in oro and converting them to Bitcoin due to the superior performance of the latter.
Despite not “disliking” gold and investing in both assets at the moment, the future was unambiguously skewed in favor of Bitcoin., He said.
“… When you get to the macro opportunity, when everything is happening, Bitcoin starts to break these patterns that it has been forming, it will vastly outperform gold, I’m 100% sure of that. In which case, why would I have one gold allocation? “
6-month chart of Bitcoin vs. Gold. Source: Skew
Here too Pal is not alone. How he pointed Cointelegraph, Analysts, including statistician Willy Woo, have predicted that Bitcoin will break away from traditional asset correlation to forge its own path. The timeline is unclear, Woo last month, however, anticipated that it would happen “soon”.
According to a new report from crypto index fund provider Stack Funds this week, meanwhile, there is support for the BTC / USD pair to hit $ 15,000 after the November US elections.