A number of factors in Bitcoin could increase its price over eight times its current value, even if most of them don’t materialize, according to the CEO of crypto-focused reviews portal Apollo, Thomas Fahrer.
“Each one of these individual things is kind of a low probability, but there’s a lot of low probability potential outcomes that can cause a really strong bull market for Bitcoin,” Fahrer tells Hall of Flame.
He predicts that, even if just a couple of these events occur, Bitcoin could reach the half-a-million-dollar mark within the next four-year cycle.
“I would say probably anywhere in that kind of $300,000–$500,000 region,” he says.
He mentions several potential events, including Bitcoin’s potential to overtake gold’s market capitalization in the future and the United States dollar being backed by Bitcoin.
“I mean, Bitcoin is a $1.2 trillion dollar market cap, and gold is $15 trillion. The way I would look at that is to say that it is kind of a very achievable outcome for Bitcoin within the next handful of years,” he says while noting that United States presidential candidate Robert Kennedy Jr. wants to back the U.S. dollar with Bitcoin.
Bitcoin’s halving schedule. (Thomas Fahrer)
While Fahrer doesn’t think Kennedy will win the presidential election, he still believes it’s important that a candidate is pushing the idea to the public.
“In a world in which that happened, that would send Bitcoin astronomically higher now,” he says.
What led to X Fame for Fahrer?
Fahrer says that his X following has grown fairly steadily since he started the account in late 2022, but it has really taken off this year, especially with the launch of spot Bitcoin exchange-traded funds in the United States.
“I guess the Twitter account following has grown fairly steadily,” he modestly says while his cat jumps onto his lap during the video call.
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