Billionaire investor Philippe Laffont says that he’s been taking more time to think about Bitcoin, and wondering why he didn’t get involved with BTC earlier.
In a new interview on CNBC, Laffont, the co-founder of hedge fund Coatue Management, says that when trying to estimate the “net worth” of the entire global economy, he feels that it’s not unreasonable for Bitcoin to represent at least one or two percent of that.
Translated into pricing, it would suggest that BTC could double in value at some point in the future, putting the flagship cryptocurrency above the $200,000 mark.
Says Laffont,
“Every day I do think ‘why do I not own it?’ And I think to be a good investor, it’s not just owning the obvious stock, sometimes you have to change your mind and say ‘well I made a mistake and I’m changing my mind’ and maybe Bitcoin will be like that…
I thought of like the market cap of the world [and] the net worth of the world is, I think $450 to $500 trillion, equities are let’s say $120 trillion, gold above and under the ground is $20 trillion. And then Bitcoin is $2 trillion. And I was like okay, well $2 trillion – let’s say it represents half a percent of the net worth of the world, could it go to one of two. Some people say Bitcoin’s going to $100 trillion, I’m like okay that’s maybe a bit of an aggressive estimate but could it double or a period of time?
And then we talked about the de-dollarization, the end of US exceptionalism, so those would be of the reasons.”
At time of writing, BTC is trading at $107,566.
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