Teeka Tiwari, editor of a financial newsletter from the Palm Beach Research Group — and advertising sponsor of Breitbart News — said on Wednesday’s edition of SiriusXM’s Breitbart News Daily with host Alex Marlow that the Russia-Ukraine conflict will contribute to a rise in Bitcoin’s value over time.
Removing several Russian financial institutions from SWIFT (Society for Worldwide Interbank Financial Telecommunication) — an international network facilitating fund transfers and payments between partnered organizations — would drive up the values of Bitcoin and gold, Tiwari assessed.
“When the global financial system cut off Russia from SWIFT, they basically pushed Russia into monetizing their gold and moving assets through the gold market,” Tiwari explained. “This will [cause] smaller countries to look at this and say, ‘Well, if this could happen to Russia, it could happen to us.'”
Tiwari said there is “no question the price of gold will go up,” which he linked to his forecast of increasingly growing Bitcoin prices over the next several years.
“We’ll also have more inflationary pressures, but as gold goes up, Bitcoin goes up an order of magnitude more,” he said. “So if you are a fan of gold, it behooves you to at least have a partial allocation to Bitcoin, because the movement higher in Bitcoin will be much, much larger than the movement higher in gold.”
“Gold is unequivocally going higher,” he emphasized. “There is no question that gold prices are going higher. I’m saying that Bitcoin will go much, much higher than gold.”
Popular adoption of cryptocurrency and associated technological platforms for use in financial transactions is still in the early phases, Tiwari noted. He said Bitcoin’s growing popularity as a financial medium for transactions will increase demand for the asset and in turn drive up its values.
“It doesn’t take much of an uptick in new buyers coming into Bitcoin to have this really huge multiplier effect in the price, which is why I think Bitcoin will be trading at a half a million dollars a Bitcoin by 2025,” he said. “There’s no other major asset in the world that’s going to have that type of percentage move over the next four years, which is why I’m incredibly bullish on Bitcoin. The adoption of Bitcoin is going to explode.”
“When it comes to Bitcoin, even though it’s trading at $42,000 [per unit] and it feels like it’s too late, we are still early. Bitcoin will have a worth of at least $10 trillion by 2025, and potentially considerably more,” he concluded.
Breitbart News Daily broadcasts live on SiriusXM Patriot 125 weekdays from 6:00 a.m. to 9:00 a.m. Eastern.