$50 Million per BTC: Tether, Softbank Crypto Venture Founder Shares Calculation

While the overhyped "400x-500x from here" estimate for $BTC should never be treated as a crypto price prediction, it is backed by solid calculation, Twenty One CEO Jack Mallers said in The David Lin Report's recent episode.

Bitcoin ($BTC) to $50,000,000: Jack Mallers shares some math behind estimate

On May 1, 2025, seasoned Bitcoin entrepreneur and investor Jack Mallers sat down with journalist David Lin of The David Lin Report to discuss the mission of Twenty One, a newly-created Bitcoin-only joint venture backed by Tether, Softbank and Cantor Fitzgerald. Strike founder Mallers joined Twenty One as a founding CEO.

Starting the interview, Mallers was asked to make things clear about his recent statement about the opportunity for the Bitcoin ($BTC) price to add another "400x-500x" from current levels. The Bitcoiner articulated such an estimate talking to Anthony Pompliano, another prominent investor and entrepreneur.

For Mallers, Bitcoin's potentially addressable market is equal to the aggregated value stored by human beings in the form of stocks, real estate, sovereign debt paper and so on. This is equal to $900 trillion for the entire humanity, Mallers opined.

Given the fact that there can only be 21 million Bitcoin ($BTC) in existence, after the entire "Bitcoinization," the price of digital gold will be equal to $42.86 million per coin. Combined with the fact that many Bitcoins ($BTC) are lost forever, $50 million per $BTC seems to be a rational estimation.

At the same time, Jack Mallers yet again reiterated that such a statement should in no way be taken as a price forecast.

Strategy rival? No, new market builder: Jack Mallers on Twenty One

He also recommended avoiding comparing Bitcoin ($BTC) to tech stocks or even stock markets as a whole, let alone comparing it to altcoins, including Ethereum (ETH). None of these assets have the 50% of Bitcoin ($BTC) opportunity, the speaker concluded.

As covered by U.Today previously, Twenty One, a joint project by Japanese Softbank, stablecoin mogul Tether and Brandon Lutnick's Cantor Fitzgerald, was unveiled on April 23, 2025.

Not unlike Saylor's Strategy, it is designed to allow institutionals to invest in Bitcoin ($BTC) without having to own it physically. The company immediately scored the status of the third largest corporate Bitcoin ($BTC) holder.

However, Mallers stressed that Twenty One would be focused on the "$BTC per share" metric instead of the familiar "USD per share" one.