Mauricio Di Bartolomeo Predicts a $1 Million Price for Bitcoin

Mauricio Di Bartolomeo, co-founder of Ledn, a Bitcoin-backed lending platform, made noteworthy assessments regarding the future of the cryptocurrency market. Appearing on Scott Melker’s YouTube program, Bartolomeo argued that Bitcoin (BTC) could reach the $1 million level, suggesting that the key factor behind this rise could be the devaluation of fiat currencies.

Bartolomeo, evaluating the US midterm election results, the multi-billion dollar cyberattack on Binance, and cryptocurrency regulations, stated that these developments have not changed his long-term bullish outlook for Bitcoin.

$1 Million Prediction for Bitcoin: He Drew Attention to the Currency’s Loss of Value

Bartolomeo, who was born in Venezuela, drew attention to the hyperinflation process in his country and explained how fiat currencies can lose value over time.

Bartolomeo, noting that a total of 14 zeros were removed from Venezuela’s national currency during his lifetime, argued that similar monetary dynamics could apply to other fiat currencies as well.

Bartolomeo made the following assessment regarding the possibility of Bitcoin reaching $1 million:

“People are saying Bitcoin could reach $1 million. It absolutely could. Because by then, the zeros might be removed from currencies. It could be $1 million in today’s money, but at that point, that amount might only correspond to $1,000 in a revalued currency.”

Bartolomeo’s remarks suggest that Bitcoin rising to $1 million doesn’t necessarily translate into a proportional increase in real purchasing power.

He Sees the $75,000 Level in Bitcoin as a Buying Opportunity

Referring to Bitcoin’s recent price movements, Bartolomeo said that despite the sharp developments in the markets, investors are viewing dips as buying opportunities.

Bartolomeo stated that he expected Bitcoin to fall to the $75,000 level and wanted to buy at that level, but he couldn’t seize the opportunity he wanted due to strong demand in the market.

Bartolomeo, who also shared data on the activity in Ledn’s loan portfolio, said that the last two months have been among the strongest periods in terms of net loan portfolio growth this year.

Bartolomeo noted that his clients tended to accumulate Bitcoin rather than exit the market, particularly during the Binance attack and the US elections, and stated that they did not observe any significant fear in investor behavior.

The renowned executive stated that $75,000 is a significant buying zone for Bitcoin, while the $70,000 level constitutes a more critical threshold for maintaining the bullish outlook.

An Assessment of the Impact of the US Elections on Bitcoin

Bartolomeo stated that shifts in the political balance in the US could cause uncertainty in cryptocurrency regulation, arguing that the CLARITY Act, in its current form, would be particularly difficult to enact.

However, Bartolomeo stated that Bitcoin should be evaluated differently from other cryptocurrencies, adding that regulatory developments would not change Bitcoin’s fundamental characteristics.

Bartolomeo also pointed to the growing US budget deficits, suggesting that increased government spending and the loss of purchasing power in fiat currencies could support long-term demand for Bitcoin.