Dan Tapiero, known for his experience in the investment industry and his co-founding role at Gold Bullion International and 10T Holdings, expressed this optimistic outlook recently. He views a specific macroeconomic factor as a potential catalyst for this expected price increase.
Tapiero emphasizes a unique correlation he has observed in the market, which he believes could drive the Bitcoin price higher. In particular, he points to "currency debasement" caused by a notable increase in the Treasury market by 60% over the last five years.
Most remarkable macro correlation break I've seen in some time.
— Dan Tapiero (@DTAPCAP) April 8, 2024
Suggests extreme concern about monetary debasement driven by 60% Treasury mkt increase past 5yrs.
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Bullish #GOLD and more so when rates drop.
Vaults #Bitcoin to 200k+
🚀 🚀 pic.twitter.com/muI1CNtN0h
This factor leads Tapiero to believe that Bitcoin, often referred to as digital gold, could rise to over $200,000. While he does not rule out the potential for a positive development in gold in such a scenario, Tapiero remains particularly optimistic about the future prospects of Bitcoin.
