Strike CEO Jack Mallers Bullish on Bitcoin’s Future, Predicts $1 Million Price Target

Jack Mallers, the CEO of the payment platform Strike, is showing strong optimism toward Bitcoin’s (BTC) future, especially as the cryptocurrency hovers above the $100,000 mark. In a recent interview with Wall Street veteran Anthony Scaramucci on the Wealthion YouTube channel, Mallers discussed the potential for Bitcoin to reach unprecedented heights, predicting a possible value of up to $1 million.

Bitcoin’s Bullish Trajectory

According to Mallers, Bitcoin could see a significant rise in value, potentially reaching a price of $1 million, marking an increase of around 871% from its current value. He explained, “The reality is, if America comes out and buys four million Bitcoin, I think Bitcoin ticks $1 million easily. If not, and we get interesting fiscal policy from this [incoming Trump] Administration, then $250,000 seems decently reasonable.”

At the time of writing, Bitcoin was trading at approximately $106,994, showing a 3.6% increase in the last 24 hours. This price surge is contributing to growing optimism about Bitcoin’s future, as many consider it a hedge against inflation and economic instability.

Mallers highlighted the current U.S. and global fiscal situations as key factors driving Bitcoin’s price potential. With rising debt levels and economic uncertainty, he predicts that Bitcoin could become a major asset in the face of global fiscal challenges. “I think we’re going to see one of the greatest asset bubbles in human history. I think the fiscal situation is a problem… So, I think the problem is we have too much debt,” Mallers stated.

He went on to explain that the global debt-to-GDP ratio is exceptionally high, with the U.S. ratio nearing 130% and the global ratio exceeding 300%. As a result, Mallers believes that there will be a realization of this debt, which could lead to currency debasement and asset inflation. In this scenario, Bitcoin stands out as the asset with the most scarcity and resilience. “My expectation is further currency debasement, my expectation is further asset inflation. And my expectation is Bitcoin will continue to be the best performer because it’s the scarcest and the hardest to make more of,” Mallers concluded.