Bitcoin Could Triple in Value: Famed Hedge Fund Manager Explains Why
Hugh Hendry, a well-known former global macro hedge fund manager, believes everything in the market is overvalued and out of sync with the real world. Despite this, he has a "soft spot" for Bitcoin (BTC-USD) and predicts it could triple in value.
Hendry shared his insights on Yahoo Finance's "Stocks in Translation", arguing that Bitcoin's potential for growth stems from its unique characteristics. He sees Bitcoin as a digital gold with a limited supply, making it a valuable asset in a world facing increasing inflation and uncertainty.
Hendry's bullish outlook on Bitcoin contrasts with the overall market sentiment, which is cautious due to rising interest rates and economic challenges. However, he believes that Bitcoin's inherent value proposition makes it an attractive investment, even in a volatile market.
Listen to the full episode here or wherever you get your podcasts.
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