Bitcoin (BTC) hitting $1 million by 2025 is about right, Real Vision founder and CEO Raoul Pal has confirmed.
In an interview with Stansberry Research last week, Pal, famous for his bullish stance on Bitcoin, said an enormous wall of money would flow into the cryptocurrency over the next few years.
I think thats about right, whether its five years, six years, he said when asked about the $1 million target.
Were going to go through two of these halving cycles, and just from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this. Its an enormous wall of money, just the pipes arent there to allow people to do it yet, and thats coming, but its on everyones radar screen and there are a lot of smart people working on it[.]
Bitcoins current halving cycle began in May 2020 and will last approximately four years. Beyond Pal, a whole sphere of analytics looks at the impact of halvings, which cut the supply of new Bitcoins available 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 BTC/USD was on track to increase by an order of magnitude after May.
In terms of the wall of money, meanwhile, corporate Bitcoin buy-ins continue to surface this month, Cointelegraph reported.
I think its going to be not because the worlds collapsing; its because theres going to be adoption by the real large pools of capital, Pal summarized.
Pal also revealed that he would be looking to sell his gold investments and convert them to Bitcoin due to the latters superior performance.
Despite not disliking gold and remaining invested in both assets for the time being, the future was unequivocally skewed in Bitcoins favor, he said.
...When you get to the macro opportunity, when its all happening Bitcoin starts breaking out of these patterns that its been forming, it is going to massively outperform gold, Im 100% sure of that. In which case why would I have a gold allocation?
Bitcoin vs. gold 6-month chart. Source: Skew
Here, too, Pal is not alone. As Cointelegraph noted, analysts including statistician Willy Woo have forecast Bitcoin breaking away from traditional asset correlation to forge its own path. The timeframe is unclear, Woo last month nonetheless anticipating it happening soon.
According to a new report from crypto index fund provider Stack Funds this week, meanwhile, support is in place for BTC/USD to run to $15,000 after Novembers U.S. elections.
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Enormous wall of money will send Bitcoin to $1M in 2025 Raoul Pal - Cointelegraph
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