John Pfeffer, a partner at London-based Pfeffer Capital, said that bitcoin could hit $700,000 and replace gold (The Independent), and that the entire network could one day be worth more than $6 trillion.
His remark was made at Sohn investment conference in New York City, a place for investors to recommend the best stocks to invest in. Pfeffer’s comment was the first time an investor recommended a cryptocurrency at Sohn, though he added “most [other] crypto assets out there are bad bets.”