Former hedge fund manager gives a massive eight-figure Bitcoin price prediction for the year 2031
A former hedge fund manager says Bitcoin (BTC) could be worth well into the millions of dollars by the year 2031.
In a new interview with Altcoin Daily, Robert Breedlove, CEO and founder of crypto investment firm Parallax Digital, says the leading digital asset could reach a $12.5 million price tag nine years into the future.
According to Breedlove, the deterioration of the US dollar (USD) will be the key factor in BTC’s price explosion.
“I have a public prediction that the US dollar is basically hyperinflated to zero, or close to it, by the year 2035…
I’m going to stand by that prediction today. I know DXY [US dollar index] is way up lately, but I kind of expect this thing to be volatile before it breaks down. If that is the case, then I have a matching Bitcoin price prediction of $12.5 million per Bitcoin by the year 2031.
Breedlove says the catch behind such a price explosion would be that the purchasing power of the USD would be drastically weaker than today, and that $12.5 million in 2031 dollars would only be equivalent to about $1 million in today’s dollars.
“A reminder that there will only be a $1 million Bitcoin price in 2020 dollars, so the purchasing power in 2020 at the time I made the prediction would be equivalent to $1 million in Bitcoin.
So what this says is that basically a million dollars doesn’t buy what it used to in the year 2031, it’s been depreciated 91 or 92%. The way you can turn it around is you take the price of bread and milk in 2020, multiply them by 12, and that’s what those things will cost in this hypothetical future of 2031.
So if bread is $5 per loaf in 2020, I call it $60 per loaf in 2031. Bitcoin’s Price [would be] $12.5 million, but that’s only $1 million in today’s purchasing power…
I will stand by that prediction as well. And when the US dollar hyperinflates to zero, hyperinflates to worthlessness, that’s why Bitcoin has no peak.”
Bitcoin is changing hands at $19,520 at the time of writing.
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