The chief executive of payments app Strike is leaning bullish toward Bitcoin (BTC) as the flagship crypto asset hovers above the $100,000 price tag.
In a new interview with Wall Street veteran Anthony Scaramucci on the Wealthion YouTube channel, Jack Mallers says that Bitcoin could hit a price of up to $1 million, a potential gain of approximately 871% from its current value.
On what could drive the crypto king to reach the seven-figure price target, Mallers says,
“The reality is, if America comes out and buys four million Bitcoin, I think Bitcoin ticks $1 million easily. If not, and we get interesting fiscal policy from this [incoming Trump] Administration, then $250,000 seems decently reasonable.”
Bitcoin is trading at $106,994 at time of writing, a 3.6% increase during the last 24 hours.
Mallers goes on to further say that the current US and global fiscal situation is also a bullish catalyst for the top crypto asset by market cap.
“I think we’re going to see one of the greatest asset bubbles in human history. I think the fiscal situation is a problem… So, I think the problem is we have too much debt.
And the way I would say it is that someone has to realize the loss. [US] Domestic debt-to-GDP close to 130%. Global debt-to-GDP well over 300%. And so there’s a loss that has to be realized. And the question is where are we going to realize that loss? Are we going to render all bondholders poor?
Probably not. My expectation is further currency debasement, my expectation is further asset inflation. And my expectation is Bitcoin will continue to be the best performer because it’s the scarcest and the hardest to make more of. In fact, it’s the only thing you can’t make any more of.”
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