RATE Group | Bitcoin Price Could Hit $700,000, Investor Predicts
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Bitcoin Price Could Hit $700,000, Investor Predicts

25 Apr Bitcoin Price Could Hit $700,000, Investor Predicts

Posted at 12:19h in Bitcoin News by

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The annual Sohn Investment Conference in New York is usually a place where Wall Street’s best hedge fund managers and investors present their top stock picks—from Amazon to Valeant Pharmaceuticals. And for the first time in the event’s 23-year history, one of those investors used the Sohn conference stage Monday to recommend a certain digital investment: Bitcoin.

John Pfeffer, a partner at his London-based family office Pfeffer Capital, is not only betting on Bitcoin, but giving it a bold price target of $700,000—about 75 times the current Bitcoin price of nearly $9,500.

While Pfeffer did not put a time frame on his prediction, his target exceeds even optimistic forecasts from other influential investors such as venture capitalist Tim Draper, who earlier this month predicted the Bitcoin price would reach $250,000 by 2022.

“Bitcoin is the…

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