Jack Mallers, CEO of Bitcoin wallet and payments app Strike, predicts that Bitcoin could hit a staggering seven-figure price in the coming months.
Bold Price Target
In an interview with Anthony Pompliano, Mallers stated that Bitcoin could rise by 260% to 1,357% from its current value of around $68,653.
“I think we’re still so early in the Bitcoin story,” Mallers said. “I’m publicly on record saying I think Bitcoin hits $250,000 to $1 million in this cycle. So now I’m speaking the next 10 to 18 months.”
US Debt as Catalyst
Mallers believes that the US government’s massive debt, currently at $34.577 trillion, will force it to print more money, leading to currency debasement. This, in turn, would drive up asset prices, including Bitcoin.
“I think people would be willing to pay $250,000 for a Bitcoin based on the mess that I think… I mean, there’s a massive hole and there’s a loss that has to be realized,” Mallers said. “That loss is going to come through debasing the currency.”
Confidence in Prediction
Mallers expressed confidence in his bold price target, stating that investors should focus on the amount of capital being printed rather than interest rates.
“I feel super confident about that,” Mallers said. “How am I supposed to predict the most fixed asset in the history of mankind against the biggest f***ed-up problem that central banks have ever had to try and solve? I mean, come on $250,000 to $1 million. I feel super confident about that.”
