Investor Hugh Hendry Sees Reasonable Odds of Bitcoin Hitting Massive Price Target, Says His Cash Ready for Dips

Macro guru Hugh Hendry believes there is a good probability Bitcoin (BTC) will spark a virtually 240% surge, however notes he is additionally ready in case the crypto king corrects.

In a brand new interview with impartial journalist David Lin, Hendry says that whereas he isn’t an skilled within the intricacies of Bitcoin and crypto, he can nonetheless “simply” triple the worth of his capital invested in BTC.

In accordance with the macro guru, his rosy view on BTC is predicated on Bitcoin’s bull market construction, the scale of its market cap, and the crypto king’s potential patrons.

Nonetheless, he emphasizes that it is usually inside the realm of risk that Bitcoin crashes to ranges final seen in October 2023.

“Once I take a look at Bitcoin, that $1 trillion [market cap] May simply be $3 [trillion].

So I feel Bitcoin can halve, triple, quadruple. It might price a minimum of $200,000.”

Hendry says that if Bitcoin witnesses a market collapse, he is able to choose up closely discounted cash, believing it will ultimately attain his large value goal.

“If Bitcoin have been to halve, then I’d purchase… So I’d principally take my money reserves, and I’d purchase Bitcoin for $30,000 and, like I mentioned, I feel there is a truthful probability that you could possibly see it buying and selling for $200,000. ‘

On the time of writing, Bitcoin is buying and selling at $59,301, up over 3% prior to now 24 hours.

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