$20 trillion for Bitcoin? Dan Tapiero presents his scenario

The crypto market is entering a new phase according to Dan Tapiero, who sees potential for Bitcoin. The macro investor estimates that its value could reach $20 trillion by 2035, ten times its current level. This projection also concerns Ethereum, Solana, and companies related to digital assets. For Tapiero, several macroeconomic signals marked a possible bottom, while a new driver could come from artificial intelligence agents and their blockchain transactions in the long term.

In brief

• Dan Tapiero estimates that Bitcoin could reach a market capitalization of $20 trillion by 2035.
• The investor believes the crypto market has already hit its bottom based on several macroeconomic signals.
• His $50 trillion target includes Bitcoin, Ethereum, Solana, and industry companies.
• Tapiero sees agent-based finance and AI-related transactions as the next market driver.

Bitcoin could reach $20 trillion by 2035

Dan Tapiero, founder, CEO, chief investment officer, and managing partner of 1Roundtable Partners (1RT) and 10T Holdings, presented this forecast Monday in the Milk Road podcast. He believes bitcoin could reach $20 trillion by 2035. According to him, this level would represent ten times its current value. This target is part of a broader digital ecosystem projection.

To explain his scenario, Tapiero considers that the crypto market has already hit its bottom. He notably includes Ethereum in this cycle interpretation. Two macroeconomic elements have played an important role. The first relates to Scott Bessent’s intervention on the dollar-yen rate at 163.

The second element is based on the Treasury bond buyback program introduced by Bessent. Tapiero describes it as a soft form of quantitative easing, injecting liquidity. In this context, the asset would have followed after a dollar peak and gold trough. Tapiero also recalls this historical link.

Tapiero’s scenario is based on a $50 trillion crypto market

Tapiero does not limit his vision to Bitcoin. His updated $50 trillion target is based on three distinct components:

• Bitcoin: $20 trillion by 2035, ten times its current value;
• Ethereum and Solana: a combined market capitalization between $2 and $10 billion;
• Industry companies: $20 trillion in digital assets distributed between public and private companies.

This new projection explains the fund’s name change, from 10T to 50T. At its launch in 2019, the total digital asset ecosystem represented about $300 billion.

By 2025, this value had grown to between $4 and $5 trillion according to Tapiero. This evolution led him to consider his initial $10 trillion target too cautious. In this projection, bitcoin holds a central position in the digital market. Ethereum, Solana, and the companies complete this structure.

Bitcoin and AI agents could open a new cycle

Tapiero also identifies agent-based finance as a potential major catalyst. According to him, blockchain constitutes a natural monetary layer for artificial intelligence agents. Transactions between software would hardly fit traditional banking uses. This evolution could create new demand for blockchain infrastructure.

Millions of agent transactions already pass through stablecoins like x402. Tapiero anticipates hundreds of trillions of transactions in five years. In this scenario, bitcoin could operate in a market structured around automated payments. Wallets for AI agents are already an investment focus of the fund.

The fund has committed $40 million to an undisclosed company developing wallet infrastructure for AI agents. The transaction is expected to finalize in the coming weeks. Its main holdings include Kraken and Ledger. It targets companies generating $50 to $100 million in revenue, aiming for an IPO.

Tapiero’s projection places BTC at the heart of the market. His $20 trillion target by 2035 will depend on the evolution of this ecosystem. Agent-based finance and liquidity remain central to his scenario. This projection rests on the investor’s assumptions.