$20 Trillion for Bitcoin? Dan Tapiero Unveils His Scenario

The crypto market is entering a new phase according to Dan Tapiero, who sees potential for Bitcoin. The macro investor estimates that its value could reach $20 trillion by 2035, which is ten times its current level. This projection also concerns Ethereum, Solana, and companies related to digital assets. For Tapiero, several macroeconomic signals have marked a possible bottom, while a new driver could come from artificial intelligence agents and their transactions on the blockchain in the long term.

In Brief

• Dan Tapiero estimates that Bitcoin could reach a market capitalization of $20 trillion by 2035.
• The investor believes that the crypto market has already reached its bottom due to several macroeconomic signals.
• His target of $50 trillion includes Bitcoin, Ethereum, Solana, and companies in the sector.
• Tapiero sees agentic finance and transactions related to artificial intelligence as a next driver for the market.

Bitcoin Could Reach $20 Trillion by 2035

Dan Tapiero, founder, CEO, chief investment officer, and managing partner of 1Roundtable Partners (1RT) and 10T Holdings, presented this forecast on Monday in the Milk Road podcast. He estimates that Bitcoin could reach $20 trillion by 2035. According to him, this level would represent ten times its current value. This target fits into a broader projection of the digital ecosystem.

To explain his scenario, Tapiero considers that the crypto market has already reached its bottom. He notably includes Ethereum in this reading of the cycle. Two macroeconomic elements would have played an important role. The first concerns Scott Bessent's intervention on the dollar-yen rate at 163.

The second element relies on the Treasury's bond buyback program presented by Bessent. Tapiero describes it as a soft form of quantitative easing that injects liquidity. In this context, the asset would have followed after a dollar peak and a gold trough. Tapiero also recalls this historical link.

Tapiero's Scenario Relies on a $50 Trillion Crypto Market

Tapiero does not limit his vision to Bitcoin. His updated target of $50 trillion relies on three distinct components:

• Bitcoin: $20 trillion by 2035, or ten times its current value;
• Ethereum and Solana: a combined market capitalization between $2 and $10 trillion;
• Companies in the ecosystem: $20 trillion of digital assets spread between public and private companies.

This new projection explains the name change of the fund, from 10T to 50T. At its launch in 2019, the total ecosystem of digital assets represented about $300 billion.

By 2025, this value had progressed to $4 to $5 trillion according to Tapiero. This evolution led him to judge his initial target of $10 trillion too cautious. In this projection, Bitcoin represents a central part of the digital market. Ethereum, Solana, and companies complete this architecture.

Bitcoin and AI Agents Could Open a New Cycle

Tapiero also identifies agentic finance as a possible major catalyst. According to him, blockchain constitutes a natural monetary layer for artificial intelligence agents. Transactions between software would hardly meet traditional banking uses. This evolution could create new demand for blockchain infrastructures.

Millions of transactions by agents already pass through stablecoins like x402. Tapiero anticipates hundreds of trillions of transactions in five years. In this scenario, Bitcoin could evolve in a market structured around automated payments. Wallets for AI agents are already an investment focus of the fund.

The fund has invested $40 million in an undisclosed company developing wallet infrastructure for AI agents. The transaction is expected to be finalized in the coming weeks. Its main holdings include Kraken and Ledger. It targets companies generating $50 to $100 million in revenue, with the goal of an IPO.

Tapiero's projection places BTC at the heart of the market. His target of $20 trillion by 2035 will depend on the evolution of this ecosystem. Agentic finance and liquidity remain central to his scenario. This projection is based on the investor's assumptions.