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Sebastian Serrano, CEO of the Argentina-based cryptocurrency exchange Ripio, has predicted that bitcoin will reach $1 million by 2030, driven by the rise of U.S. public debt and the devaluation of the U.S. dollar.
CEO Believes Bitcoin May Reach $1 Million by 2030
Sebastian Serrano, CEO of Ripio, one of the largest Argentina-based cryptocurrency exchanges, has predicted that Bitcoin will reach $1 million by 2030. Serrano believes that the current geopolitical and economic circumstances will help bitcoin to keep its upward trajectory.
While this prediction entails a price increase of over 1,300% in the next 6 years, Serrano believes a particular scenario might create the conditions for this possible future to unfold. Ripio’s CEO predicts that the U.S. will keep increasing its public debt whether Harris or Trump wins the upcoming elections, as the victor will be forced to maintain the current level of spending. Nonetheless, he also acknowledges that bitcoin prices will face a correction if Harris clenches the victory, at least in 2024.
Serrano explained:
In the long term, the fiscal state has no other option but to devalue the currency. The U.S. debt is already US$35 trillion.
This debt increase will also increase the value of financial assets across the board, bringing a devaluation of the dollar as the U.S. government will have no choice but to resort to money printing to fulfill its commitments.
This debt skyrocketing scenario will cause global investors to seek refuge in safe-haven assets, including gold and digital assets, depending on their preferences. “The elderly will run to gold and the new generations will buy bitcoin,” he stressed.
Serrano’s opinions line up with what many investors are expecting. In September, Bitwise CIO Matt Hougan also reinforced the role of Bitcoin as a hedge against public debt, stating it represented the “ultimate insurance policy against our government royally messing up the U.S. dollar.”
Read more: Bitwise CIO Highlights Bitcoin’s Role as a Hedge Against U.S. Public Debt
Robert Kiyosaki has also referred to bitcoin similarly, inviting investors to exit the U.S. dollar and invest in precious metals and the original cryptocurrency.
Read more: Robert Kiyosaki Pushes Bitcoin as US Debt Soars to Alarming Levels — Warns of Banking System Failures