The CEO of payments app Strike, Jack Mallers, is expressing optimism about the future of Bitcoin (BTC) as the cryptocurrency continues to trade above $100,000. In a recent interview with Wall Street veteran Anthony Scaramucci on the Wealthion YouTube channel, Mallers shared his belief that Bitcoin could potentially reach a price of $1 million, representing a significant increase of approximately 871% from its current value.
Mallers outlined two potential scenarios that could drive Bitcoin to this seven-figure price target. One possibility is if America were to purchase four million Bitcoin, which he believes would easily push the price to $1 million. Alternatively, if the incoming Trump Administration implements favorable fiscal policies, Mallers suggests that a price of $250,000 for Bitcoin could be achievable.
At the time of writing, Bitcoin is trading at $106,994, showing a 3.6% increase over the last 24 hours. Mallers also pointed to the current fiscal situation in the US and globally as a bullish factor for Bitcoin. He highlighted the high levels of debt, both domestically and globally, and predicted that this could lead to significant asset inflation and further currency debasement.
Mallers emphasized Bitcoin’s scarcity and the fact that it is impossible to create more of it, making it a valuable asset in times of economic uncertainty. He believes that Bitcoin will continue to outperform other assets due to its limited supply and unique properties.
In conclusion, Mallers’ bullish outlook on Bitcoin is based on both fundamental factors such as fiscal policies and economic conditions, as well as the inherent qualities of Bitcoin as a scarce and valuable digital asset. As the cryptocurrency market continues to evolve, it will be interesting to see if Mallers’ predictions for Bitcoin’s price come to fruition.