© Reuters
Investing.com – Echoing several comments in recent weeks, Larry Lepard, founder and managing partner of Equity Management Associates, said the U.S. dollar is headed for a total collapse, which he believes will lead to a massive rise in the .
He indeed explained in an interview granted to Kitco recorded on April 4 but broadcast yesterday, that it is now obvious that the dollar will continue its spiral of depreciation which has lasted for decades.
Specifically, Lepard predicts the dollar’s outright demise within ten years, and says people will turn to the and other scarce assets when they realize the dollar is doomed.
“I think the smart people in the world, and ultimately most people, get the joke and realize that fiat money is constantly losing value, and as that trend increases, people will go to bitcoin ” he explained.
“They’ll go to bitcoin. They’ll go to . They’ll go to real estate. he asserted.
He indeed hailed Bitcoin’s capped supply of 21 million coins, which he believes gives it a key advantage over gold and will allow its price up to $10 million per BTC in the long run.
“If gold reaches $10,000 tomorrow, we will mine more gold. There is no doubt that we know where it is, but it is not profitable to extract it from the ground [pour l’instant] ” he explained, pointing out that on the other side, “if bitcoin reaches $100,000 tomorrow, there will be no more bitcoin creation.”
Regarding the steps that will lead to this parabolic goal, Lepard explained that “as more and more people realize that they should save in this form of money, the price will go up in my opinion. .I think we’ll hit $100,000.Then I think we’ll hit $1 million,and finally,I think we’ll hit $10,000,000 a piece.I’m sure my grandkids will be shocked by people who own a single coin. I mean being a holder of whole coins is going to be a big deal.”
Lepard, however, warned that the cryptocurrency will remain highly volatile, with significant corrections along the way.
Finally, regarding the risks to this very optimistic forecast, Mr. Lepard considered that governments could try to slow the mass adoption of bitcoin by making it more difficult to enter and exit crypto markets and by increasing related taxes, but he doubts a lasting impact.