JP Richardson, CEO of public cryptocurrency company Exodus, gave a surprising price prediction for Bitcoin (BTC) in an interview with CNBC.
The senior executive said he expects Bitcoin to surpass the $200,000 level next year, predicting its market value will exceed that of gold in the long term.
The CEO pointed out that based on current market caps, Bitcoin's market cap is around $1.8 trillion, while gold's market cap is $18 trillion. He added that if this gap narrows, Bitcoin could skyrocket tenfold, pushing its price into the $900,000 to $1 million range. “I'm not sure if it will reach $1 million within a few years, but I do expect it to surpass the $200,000 level by 2026,” he said.
The CEO cited the Federal Reserve's upcoming interest rate cuts as a key driver of the price rise, and said President Donald Trump's proposed massive economic stimulus package could also inject new momentum into risk assets. He argued that the combination of these two factors will create a strong bullish narrative for the crypto market.
He also said the U.S. may reconsider the idea of creating a “strategic Bitcoin reserve” before the upcoming midterm elections, arguing that one of the most notable recent developments hasn't been talked about enough: “The state of Texas, the world's eighth-largest economy, has added Bitcoin to its balance sheet by purchasing Bitcoin. That's a big deal.”
The CEO said the move could have a ripple effect: “How many countries will follow suit? How many countries will take similar steps?” He noted that a new wave of Bitcoin purchases could begin on a national and global scale.
*This is not investment advice.
