Krueger Sees Bitcoin Price Soaring to $400,000-$450,000

Bitcoin maximalist Fred Krueger, a Stanford graduate with a PhD, believes the cryptocurrency will rise to $400,000-$450,000. He bases his forecast on the history of the largest US public companies, noting that assets which have gained institutional recognition have shown tenfold growth over time.

Krueger points out that Facebook and Google took nine years each to grow tenfold, while Nvidia achieved this in seven years and Salesforce in ten. He sees the launch of spot Bitcoin ETFs in January 2024 as the equivalent of an IPO for Bitcoin, marking the beginning of the cryptocurrency's institutional adoption.

The 'offering price' of Bitcoin at the time of the ETF launch was around $40,000-$45,000. Applying the same model as Nvidia, Krueger calculates that a tenfold increase from this 'IPO price' would put Bitcoin's value at $400,000-$450,000.

Krueger does not specify an exact date for this potential price target, but sets an upper limit of seven years or less, based on Nvidia's example.