Bitcoin to 700k?! Major Bull Run! | CNBC Fast Money

today was Bitcoin for more on that let’s bring in Bitcoin bold John Pfeffer FF for capital John great to have you on the program great to be here I want to go right to what you were predicting at the conference and that is a Bitcoin will rise to no less than 90,000 and potentially as high as 700,000 what sort of time frame are you looking forward and can you sort of lay out the case for for the bear case I guess if you want to call it that 495 second and the bull case which is 700 grand well sure the bear case is zero but these are these are all the people should think about crypto assets Bitcoin as as a venture capital investment they could go to zero but there’s a chance that they could be worth much more in the case of Bitcoin the $90,000 price would be what it would be worth if Bitcoin became equal to private gold bullion holdings about 1.6 trillion dollars of of total value compared to 150 billion or thereabouts today and you know it’s it’s it’s a it’s a bet it’s a risk that that I think is interesting and I’d be willing to take on the higher end you could get to higher values if Bitcoin becomes a major reserve currency ie you know countries begin to take Bitcoin into their reserves and in that case it could reach several hundred thousand dollars I think the probability of that is lower but it’s certainly a possibility and and that’s what you do when you make a venture capital investment you’re betting on on on potential outcomes you’re basically saying that Bitcoin so what’s really interesting here is how fast people jump on the bandwagon because if you’ve been following this channel the news is very bleak especially when we were under 300 billion market cap the nare the mainstream media was just basically belittling crypto currencies and a lot of fear a lot of panic a lot of uncertainty and now all of a sudden you know I thought that I was being very bullish by predicting Bitcoin to twenty thousand by the end of the year this guy is now protecting ninety thousand to seven hundred thousand Bitcoin like I said hopefully you’ve been making buys in dollar-cost averaging into this market I still don’t think it’s too late but like I said I’m still not buying I made enough buys with my dollar cost averaging when the prices were lower so I am just gonna sit and watch this and see what happens and I probably won’t make many more purchases for for a while just because I’m pretty happy of how much I’ve invested in crypto but let me know what you guys think this is obviously a very optimists are optimistic price prediction and I’m still I still have orders and I thought bitcoin was gonna go under 5,000 I’m not I’m not gonna lie to you guys so I hope it never goes down there but I still have a good amount of cash socked away in my G Dax trading account my gemini trading account but I’m hoping that this hits that 20,000 and on another positive note if you have been following this channel I said the goal was to hit 10,000 and we’re not too far away and I used to joke around that you know by the end of the year we get $20,000 Bitcoin and hopefully 10,000 subscribers well now I’m not sure what will come first but we could see a $20,000 Bitcoin before we hit 10,000 subscribers on this channel so anyways have a great Tuesday what is this today yeah Tuesday man time flies and I will talk to you guys soon

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