Bitcoin Will Hit $100,000 Before $60,000, Says Mike Alfred, Who’d Bet Up to $1 Million — Scaramucci Backs the Call
Bitcoin investor Mike Alfred would bet up to $1 million that the cryptocurrency reaches $100,000 before it falls to $60,000.Bitcoin Price Sits Between $60K And $100K TargetsOn the All Things Markets podcast that aired Saturday, Alfred said, "I’d be willing to bet up to a million dollars cash that it hits 100K before it hits 60." Host and SkyBridge Capital founder Anthony Scaramucci said he agrees.Bitcoin traded at $80,840 on Coinbase, down 0.04% over 24 hours and 4.01% over the past month. That puts $100,000 about 24% above the current price and $60,000 about 26% below it.Why Alfred Is Bullish On BitcoinAlfred’s argument rests on Bitcoin’s supply. He called it "sound money" that operates outside a fiat system built on debt and deficits.He said Bitcoin’s issuance approaches zero over the next century, while dollar issuance tends to rise with U.S. government debt. In his view, that makes Bitcoin an asset that gains purchasing power over time."It’s a family heirloom asset. You buy it, you put it in the vault, you leave it alone for 10 or 20 years. It will systematically accrue purchasing power," Alfred said.Alfred said he does not expect Bitcoin to fall below $57,000 to $58,000 again and sees it reaching $100,000 within two to four months. He expects $200,000 to $300,000 within three to five years.Bitcoin Bears Dismissed Alfred’s remarks come as not everyone shares the bullish outlook. During the podcast, Scaramucci cited Mike McGlone, senior commodity strategist at Bloomberg Intelligence, who has argued if U.S. stocks drop 20%. That would be a drop of roughly 88% from current levels.Alfred pointed to longtime Bitcoin critic Peter Schiff, saying Schiff began predicting a collapse when Bitcoin was trading near $400."He should have just bought it instead," Alfred said.Scaramucci said he is in Alfred’s camp on Bitcoin, though he is not "smart enough to know the direction today."Scaramucci has voiced the $100,000 target before. In August, he said Bitcoin would "," but would "grind for a while," citing the halving cycle and tighter supply.Alfred said his short-term call is not financial advice. This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.