Thomas Fahrer, CEO of Apollo, predicts Bitcoin could reach $300,000-$500,000 within four years due to several low-probability events, including Bitcoin surpassing gold's market cap and the U.S. dollar being backed by Bitcoin. He believes the launch of spot Bitcoin ETFs has contributed to his growing X following, as he shares insights on ETF inflows and outflows. While Fahrer acknowledges the market's volatility, he enjoys sharing both positive and negative news. For technical analysis, he trusts James Check of Glassnode, while Fred Krueger provides valuable insights on Bitcoin ETFs and the power law. Fahrer also runs a newsletter with his brother, tracking corporations purchasing Bitcoin. He expects spot Ether ETFs to experience strong initial inflow but faces the 'staking issue', where investors miss out on staking rewards by holding Ether through the ETFs. Despite this, Fahrer anticipates strong interest in Ethereum ETF coverage.
Bitcoin Could Hit $500K, But Spot Ether ETFs Face Staking Issue: Thomas Fahrer
Summary:
Thomas Fahrer, CEO of Apollo, predicts Bitcoin could reach $300,000-$500,000 within four years.
He identifies several low-probability events that could drive this surge, including Bitcoin overtaking gold's market cap and the U.S. dollar being backed by Bitcoin.
The launch of spot Bitcoin ETFs has boosted Fahrer's X following, as he shares insights on ETF inflows and outflows.
Fahrer expects spot Ether ETFs to experience strong initial inflow, but highlights the 'staking issue' where investors miss out on staking rewards by holding Ether through the ETFs.
He believes this could affect the popularity of Ether ETFs compared to Bitcoin ETFs.
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