With the combination of increased demand for bitcoin through ETFs and the upcoming supply shock of the halving, private equity firm 10T Holdings' CEO Dan Tapiero reckons there’s upside potential for the cryptocurrency.

“I think we could easily see a price close to $200,000,” Tapiero told The Block in an interview at the Digital Asset Summit in London. “I don't think it's so crazy.”

Tapiero explained that this would be an increase of around three times the current price, roughly matching the percentage difference between the 2017 and 2021 peaks. He added that bitcoin rose around 20 times from the lows of the bear market to the 2021 peak, meaning that were that to repeat, bitcoin could rise even higher toward the $300,000 mark.

“It’s hard to put a fine point on these things and also the …