Veteran macro and crypto investor Dan Tapiero, founder of 10T Holdings (now 50T Funds), has outlined a bullish outlook for Bitcoin and the broader digital asset market. He argues that Bitcoin's current market cycle is far from over, positioning it in a mid-stage consolidation rather than approaching a blow-off top. His base-case target for Bitcoin during this cycle is $180,000.
Tapiero views Bitcoin's price action through a macro lens, citing structural drivers like continued currency debasement, rising government deficits, and a global shift away from traditional monetary discipline as core forces pushing investors toward scarce assets. He sees Bitcoin's fixed supply as the "cleanest expression" of this trend.
Beyond Bitcoin, Tapiero highlights the explosive growth of stablecoins as the real payment rails of the global financial system. He notes that stablecoin transaction volumes reached $33 trillion in 2025, a significant jump from $19.7 trillion in 2024. He believes traditional financial institutions are rapidly adopting stablecoins for cross-border settlement, treasury operations, and payments, a trend he expects to accelerate in 2026.
Tapiero's broader thesis extends to the entire digital asset class. He sees the market reaching a $10 trillion valuation during the current expansion and projects a realistic $50 trillion valuation over the next decade as crypto infrastructure merges with traditional finance. Parallel to this, he projects gold at $5,500 per ounce and silver at $85, reinforcing his inflation-hedge narrative.
Several catalysts underpin his optimism: monetary easing via falling interest rates and aggressive fiscal spending; massive AI infrastructure investment increasing demand for alternative stores of value; a regulatory shift in the U.S. he terms the "Americanization of crypto"; and the next growth wave in tokenization, blockchain-AI convergence, and on-chain prediction markets.
For investors, Tapiero recommends a core portfolio strategy splitting investments between Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). He expresses caution about crypto treasury companies, questioning the long-term value proposition for most, stating "There's no moat."
His bottom line: Bitcoin's cycle has more room to run, stablecoins are quietly reshaping global finance, and digital assets are transitioning from a speculative niche into a foundational layer of the financial system.
