JP Richardson, CEO of the public crypto company Exodus, has shared a striking price prediction for Bitcoin (BTC) in a recent interview with CNBC.
The senior executive stated that he expects Bitcoin to surpass the $200,000 level by 2026. Furthermore, he predicts that Bitcoin's market value will eventually surpass that of gold in the long term.
Richardson noted that, based on current market capitalization, Bitcoin stands at approximately $1.8 trillion, while gold's market capitalization is around $18 trillion. He suggested that closing this significant gap could potentially see Bitcoin surge tenfold, pushing its price into the $900,000 to $1,000,000 range. While acknowledging the uncertainty of reaching $1 million in just a few years, he expressed confidence in surpassing the $200,000 mark by 2026.
Key Drivers for Bitcoin's Growth
The CEO cited the Federal Reserve's upcoming interest rate cuts as a key driver expected to fuel Bitcoin's price appreciation. He also argued that President Donald Trump's proposed large-scale stimulus packages could inject new momentum into risky assets.
Richardson believes that the combination of these two factors – interest rate cuts and stimulus packages – would create a strong bullish narrative within the crypto market.
The Impact of State-Level Bitcoin Adoption
Furthermore, the CEO suggested that the US might revisit the idea of creating a "strategic Bitcoin reserve" before the upcoming midterm elections. He highlighted what he considers an under-discussed development: Texas, which is the world's eighth-largest economy, has added Bitcoin to its balance sheet through direct purchases.
Richardson emphasized the potential ripple effect of this move, posing the question: "How many states will follow suit? How many countries will take a similar step?" He posited that this action could initiate a new wave of Bitcoin buying on both national and global scales.