In a new interview with YouTuber and crypto strategist Scott Melker, Krüger predicts that Bitcoin will eventually hit the $1 million price tag. However, he says the timeframe for the price target is up for grabs.
“One million Bitcoin? I think it will happen, most definitely. I have no idea when. I think it’s way out there.”
The crypto analyst is also unveiling his year-end price target for the largest crypto asset by market cap.
“$100,000 by year-end is possible. I think it’s very unlikely – or let’s put it this way, it’s unlikely – it’s not very unlikely. I thought it was delusional under normal circumstances. But these are not normal circumstances.
We just had a slew of ETFs (exchange-traded funds) approved and that changed everything, I think. So my base-case scenario is more like $75,000 – $85,000. Can we hit $100,000 by year-end? We definitely can.”
Krüger also says that Bitcoin could emerge as a bigger asset class than gold in a decade.
“Bitcoin becomes an asset. It could be bigger than gold in 10 years. I think Bitcoin’s role is actually competing against gold. It is the gold of the younger generations.”
The economist adds that cryptocurrencies will continue to outperform other assets for the foreseeable future.
“I still think, actually, that crypto is going to continue to be the best performing asset class by a long stretch. Across time frames, actually.”
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