Speaking at the 23rd annual Sohn Investment Conference, John Pfeffer, hedge fund manager at Pfeffer Capital, said that Bitcoin is the first viable candidate to replace gold, and is better than the precious metal “on every front,” MarketWatch reported yesterday, April 23.
Appearing on CNBC’s Fast Money this morning, April 24, Pfeffer confirmed his prediction that Bitcoin would rise to “no less than $90,000 and potentially as high as $700,000.” Pfeffer said that BTC and crypto assets in general should be thought of as a venture capital investment: “they could go to zero, but they could be worth much more.”