Analysis: Tapiero ups crypto forecast to $50T; Compass Point downgrades Circle on valuation
The post Analysis: Tapiero ups crypto forecast to $50T; Compass Point downgrades Circle on valuation appeared on BitcoinEthereumNews.com. Investor Dan Tapiero merges his firms into a new brand, “50T,” reflecting a $50 trillion crypto market forecast. Tapiero says the crypto ecosystem is already at $5T, “far exceeding” his initial 10-year, $10T thesis from 2020. Circle (CRCL) stock fell up to 8% after Compass Point downgraded it to “Sell,” citing valuation and competition. Prominent digital asset investor Dan Tapiero is making a bold statement about the future of the crypto economy, merging his private equity firms 10T Holdings and 1RoundTable Partners under a new, ambitious brand: 50T. This rebranding reflects his forecast that the digital asset ecosystem will explode in value to reach an astonishing $50 trillion within the next decade. The announcement comes alongside the launch of a new $500 million fund and as one of the firm’s successful portfolio companies, Circle, faces new scrutiny from Wall Street after its recent meteoric stock market debut. A natural evolution: from a $10 trillion to a $50 trillion thesis The creation of the 50T brand is more than just a name change; it represents a significant upward revision of Tapiero’s long-term market outlook. “50T is a natural evolution from our original thesis in 2020 when we launched 10T with the belief that the digital asset ecosystem would grow from $300 billion to $10 trillion in 10 years,” Tapiero explained in a Tuesday press release. He noted that the market has far outpaced his initial projections. “Today, we estimate that we’re already at $5 trillion, far exceeding our initial timeline, which is why we’re adjusting our outlook upward,” he said. Tapiero pointed to recent successes in the industry, such as the blockbuster IPO of stablecoin issuer Circle and the acquisition of crypto derivatives exchange Deribit by Coinbase, as clear evidence of the sector’s growing maturity. “Recent successes like the Circle IPO and…
The post Analysis: Tapiero ups crypto forecast to $50T; Compass Point downgrades Circle on valuation appeared on BitcoinEthereumNews.com.
Investor Dan Tapiero merges his firms into a new brand, “50T,” reflecting a $50 trillion crypto market forecast. Tapiero says the crypto ecosystem is already at $5T, “far exceeding” his initial 10-year, $10T thesis from 2020. Circle (CRCL) stock fell up to 8% after Compass Point downgraded it to “Sell,” citing valuation and competition. Prominent digital asset investor Dan Tapiero is making a bold statement about the future of the crypto economy, merging his private equity firms 10T Holdings and 1RoundTable Partners under a new, ambitious brand: 50T. This rebranding reflects his forecast that the digital asset ecosystem will explode in value to reach an astonishing $50 trillion within the next decade. The announcement comes alongside the launch of a new $500 million fund and as one of the firm’s successful portfolio companies, Circle, faces new scrutiny from Wall Street after its recent meteoric stock market debut. A natural evolution: from a $10 trillion to a $50 trillion thesis The creation of the 50T brand is more than just a name change; it represents a significant upward revision of Tapiero’s long-term market outlook. “50T is a natural evolution from our original thesis in 2020 when we launched 10T with the belief that the digital asset ecosystem would grow from $300 billion to $10 trillion in 10 years,” Tapiero explained in a Tuesday press release. He noted that the market has far outpaced his initial projections. “Today, we estimate that we’re already at $5 trillion, far exceeding our initial timeline, which is why we’re adjusting our outlook upward,” he said. Tapiero pointed to recent successes in the industry, such as the blockbuster IPO of stablecoin issuer Circle and the acquisition of crypto derivatives exchange Deribit by Coinbase, as clear evidence of the sector’s growing maturity. “Recent successes like the Circle IPO and…
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