Cardone Slams $5M Bitcoin Target as 'Stupid' but Tevelow Calls it Logical Fallacy

Financial analyst Gary Cardone has sparked debate in the crypto community by labeling a $5 million Bitcoin price target as 'stupid' and 'irresponsible'.

In a post on X, Cardone argued that such a high price would imply a total market cap of around $105 trillion, which is more than seven times gold's current market cap of $15 trillion.

Entrepreneur Jesse Tevelow pushed back against Cardone's claim, calling it a 'logical fallacy'. Tevelow pointed out that the dollar supply has no cap and continues to grow through printing, making every Bitcoin worth more dollars over time without any increase in adoption.

Tevelow also noted that gold's supply is not fixed, as mining technology improves and more gold is mined. In contrast, Bitcoin's 21 million coin limit is absolute and unchangeable.