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According to the Stock-to-Flow Model, a year-end price of at least $100,000 will be recorded this year. The average price that will precede this, is an estimated $288,000, according to PlanB, the creator of the S2F model.<\/p>\n
As Pompliano said, the surge in Bitcoin’s price to the aforementioned level may indeed force both investors to purchase the asset, in the same way, other billionaires have retracted their bearish stances on Bitcoin. <\/p>\n
However, it is also possible that both Billionaires stick to their current convictions, as both their criticism of the asset focuses more on Bitcoin’s capacity to survive over a long period of time than the ability for the asset to hit new price levels.<\/p>\n
Back in 2020, Dimon said that Bitcoin was “just not my cup of tea.\u201d But in 2017, his takes were even harsher. Asides from calling Bitcoin a \u201cfraud..worse than tulip bulbs\u201d and adding that Bitcoin \u201cisn\u2019t going to work” he was firm about firing JPMorgan traders, should they take part in trading the asset, as “It is against our rules, and they are stupid, and both are dangerous.\u201d\u00a0<\/em><\/p>\n Even though three years have passed and JPMorgan now allows investors to allocate 1% of their portfolio to Bitcoin, Dimon is still yet to warm up to the asset. <\/p>\n