The market-leading cryptocurrency is expected to climb to the astronomical rate of 1 million US dollars by 2025.
Real Vision founder and managing director Raoul Pal reiterates his forecast that Bitcoin ( BTC ) will climb to a market value of 1 million US dollars by 2025.
In an interview with Stansberry Research last week, Pal, who is known for his exuberant prognoses regarding Bitcoin, promised that “an enormous mountain of money” will flow into the market-leading cryptocurrency in the next few years.
Pal: Bitcoin to $ 1 million by 2025
When asked whether he is sticking to his forecast of 1 million US dollars, Pal replied accordingly: „I think it will be so, whether in five or six years.“
To this end, he adds:
“We’re still two halves ahead of us, and judging by the conversations I’m having with institutional investors, there’s an enormous mountain of money out there waiting to be poured in here. And it’s really a huge mountain of money, but at the moment there aren’t the channels that make it possible, but that will come with time. A lot of people already have this on their radar and are working on it accordingly. “
The “halving” that Pal addresses is the so-called Bitcoin halving, in which the rate of increase in the amount in circulation is literally halved, which creates an artificial shortage. Halving takes place every four years, the last being in May 2020. In addition to Pal, many other crypto experts also see halving as an important catalyst for price development, as the available supply is becoming increasingly smaller in relation to demand, which should naturally drive the price up.
PlanB, the inventor of the stock-to-flow forecast model for Bitcoin Evolution, also derives a similarly optimistic forecast from this fact and believes that the price will soon soar to new heights following the halving.
So not only the “halving” gives reason to hope that Pal’s prognosis will come true, but also the supposed “mountain of money” that the experts believe should flow into Bitcoin, because, as Cointelegraph recently reported , In fact, several large companies have invested large sums in the market-leading cryptocurrency this month.
„I don’t think it will happen because the world is about to collapse, but because acceptance by big business is increasing,“ as Pal explains.
Is gold being taken down?
In the further course of the interview, Pal also revealed that he wants to liquidate his investments in gold in order to convert them into Bitcoin.
Although he „does not find the precious metal bad“ and therefore initially retains positions in Bitcoin and gold, he clearly sees the future in cryptocurrency:
„If the macroeconomics behind it comes in and everything comes together, then Bitcoin will break out of the previous pattern and gold will clearly depend on it, I’m 100% sure of that. Why should I still be invested in gold then? „