$10,000,000 Bitcoin Price Comes Amid US Dollar Collapse, Says Fund Manager Larry Lepard – Here’s His Outlook
The founder of a Boston-based investment management firm says the US dollar is headed for total collapse – an event that would see a massive spike in the price of Bitcoin.
Larry Lepard, founder and managing partner of Equity Management Associates, says it is now obvious that the dollar will continue its decade-long downward spiral, favoring hard assets like BTC.
In a new interview with Kitco, Lepard predicts the dollar’s fall within ten years, saying people will flock to Bitcoin and other hard assets once they realize the USD is doomed.
“I think the intelligent people in the world and eventually most people get the joke and realize that fiat currency is losing value consistently and as the trend grows, people will go to Bitcoin.
They will go to Bitcoin. They want to go for gold. They go to property. No one is going to be stupid enough to buy bonds from a set of governments that have proven they cannot manage the currency properly.”
Lepard says Bitcoin’s limited supply of 21 million coins gives it an important advantage over gold, and will play a central role in the long-term parabolic price rise to $10 million per BTC.
“If gold goes to $10,000 tomorrow, we’re going to mine more gold. There’s just no question because we know where it is, it’s just not economical to get it out of the ground.
Whereas if Bitcoin goes to $100,000 tomorrow, no more Bitcoin is going to be created. So it’s a very powerful thing. There are seven plus billion people on the planet and there are 21 million of these coins. It is a very healthy form of money.
Which more and more people are coming to [realize they] should save in this form of money, the price is going to go much higher in my opinion. I think we’ll hit $100,000. Then I think we will hit $1 million and I think eventually we will hit $10,000,00 per coin. I’m sure my grandchildren will be shocked by people owning one coin, I mean it would be a big deal to be a whole coiner.”
Lepard warns that BTC will remain highly volatile, with major declines along the way.
As for the risks to Bitcoin, Lepard says he highly doubts the technology will fail, he sees big use cases and growth, and he can’t really see a scenario where BTC doesn’t win in the long run.
He thinks the government may try to slow it down by making it harder to get in and out of crypto markets and with higher capital gains taxes, but he thinks it will ultimately serve as a signal that Bitcoin is the future and here to stay.
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Featured Image: Shutterstock/Mr.Alex M/Chuenmanuse
