Strike CEO Jack Mallers is making bold predictions about the price of Bitcoin, suggesting that it could reach a seven-figure value during the current market cycle. In an interview with David Lin on YouTube, Mallers explains that efforts to rescue the bond market may result in a more relaxed monetary policy, which in turn could lead to a significant increase in the value of Bitcoin, ranging from 297% to 1,486%.
Mallers highlights the current troubles facing the bond market, noting that bondholders are suffering significant losses, which in turn affects banks and their customers. He suggests that if central banks and governments intervene to save the bond market, it would require a huge amount of liquidity, potentially driving up the value of assets such as Bitcoin.
Mallers believes that Bitcoin’s scarcity makes it impossible to predict its value accurately, but he imagines it could reach anywhere between $250,000 and one million. He bases this estimate on the liquidity that would be needed to stabilize the market.
The Strike CEO also emphasizes the importance of Bitcoin’s price as a key performance indicator for its adoption as a global currency. He believes that as more people recognize the value and utility of Bitcoin, its adoption will increase, leading to a surge in its price against fiat currencies like the dollar.
At the time of writing, Bitcoin is trading at $63,035.
Disclaimer: The opinions expressed in this article are not financial advice. Investors should conduct their own research and exercise caution when investing in Bitcoin or other cryptocurrencies. The Daily Hodl is not responsible for any losses incurred.