Strike CEO Jack Mallers is making a bold prediction about the future price of Bitcoin, suggesting that it could reach a staggering seven-figure value in the current cycle. In an interview on the David Lin YouTube channel, Mallers explains that efforts to save the bond market could lead to a looser monetary policy, ultimately causing Bitcoin to appreciate significantly. He estimates that the cryptocurrency could experience a price surge of anywhere between 297% and 1,486% from its current level.

Mallers highlights the current troubles facing the bond market, which is experiencing unprecedented difficulties. Bondholders are suffering significant losses, and this has a direct impact on banks, as they own a significant portion of these bonds. As a result, bank deposits are at risk, leading central banks and governments to intervene in an attempt to stabilize the market. However, the amount of liquidity required for this rescue mission could have a profound effect on asset prices, potentially driving them to new heights.

Expressing his optimism, Mallers suggests that Bitcoin’s scarcity makes it an attractive asset to hold during times of economic uncertainty. He believes that the liquidity injected into the market could lead to Bitcoin reaching a value range of $250,000 to $1 million. This estimation is based on the assumption that the necessary liquidity will be provided to restore market stability.

Mallers also emphasizes the importance of price as a key performance indicator for Bitcoin adoption. He believes that the price reflects the level of global acceptance and usage of Bitcoin as a form of currency. As more people recognize the value and benefits of Bitcoin, its adoption as a monetary unit is expected to increase. Furthermore, Mallers predicts that Bitcoin’s value against the dollar and other fiat currencies will experience a significant upward surge.

At the time of writing, Bitcoin is trading at $63,035. Mallers’ optimistic outlook suggests that this price is just the beginning of a potentially explosive growth phase for the cryptocurrency.