Alfred called the recent AI infrastructure market fall a mid-cycle correction caused by capital supply worries rather than decreasing demand. He anticipates a major AI bull market and a new semiconductor-index high by mid-2027.
- Mike Alfred said that Bitcoin would hit $100,000 before slipping below $60,000.
- He dismissed a bearish scenario of a possible 20% decline in U.S. stocks, calling Bitcoin "sound money" outside a fiat system built on debt and deficits.
- Alfred called Bitcoin a "family heirloom asset" and recommended holding it for 10 to 20 years, given its short-term volatility and limited liquidity.
As Bitcoin (BTC) struggles to find bullish momentum with bearish sentiment prevailing, investor Mike Alfred is prepared to bet up to $1 million that the cryptocurrency will hit $100,000 again before it falls below $60,000. Alfred also forecasted a possible run to 200,000-300,000 over the next three to five years.
Speaking with SkyBridge Capital founder Anthony Scaramucci on All Things Markets, Alfred said, "I'd be willing to bet up to a million dollars cash that it hits 100k before it hits 60."
Alfred Rejects Bitcoin Bear Case, Sees $100K Within Months
Alfred said he expects Bitcoin to hit $100,000 in the next two to four months - a short-term call he said was "not financial advice." He said the cryptocurrency may have already made its last move below $60,000, after falling to about $57,000 to $58,000 earlier this year.
Alfred, a private investor, advisor and board member, is the Founder and Managing Partner of Alpine Fox LP, a private investment firm that invests in value equities and Bitcoin.
Scaramucci cited Bloomberg Intelligence strategist Mike McGlone, who made a bearish call, saying Bitcoin could fall sharply if U.S. stocks fell 20%. Alfred rejected that thesis. "There's a lot of Bitcoin derangement syndrome out there," he said, describing Bitcoin as "sound money" that exists outside a fiat system "built on debt and deficits."
10-20-Year Bitcoin Hold
Bitcoin could fall when there's tight liquidity, but the underlying protocol keeps running regardless of the price, Alfred said. According to him, Bitcoin is "a family heirloom asset," which he said to buy and hold for 10 to 20 years.
He also took a swipe at longtime skeptics, saying gold advocate Peter Schiff began predicting Bitcoin's collapse when it was around $400 and "should have just bought it instead."
Scaramucci, who shares Alfred's view, added that Bitcoin could rise tenfold if its capitalization reached half that of gold. That would mean Bitcoin prices rising to about $700,000 a coin.
At the time of writing, Bitcoin's price was trading around $80,360, recouping from its intraday low of $79,262. On Stocktwits, retail sentiment around BTC remained in the 'Bearish' zone, as chatter improved to 'normal' from 'low' levels over the past day.
Alfred Calls Bitcoin A 'Family Heirloom'
On interest rates, Alfred said a Federal Reserve hike at next week's Oct. 28 meeting was "very unlikely." He expects a 25 basis point increase in December, barring surprises. Scaramucci said he expects the Fed to raise rates this week.
Alfred also called the recent pullback in artificial intelligence infrastructure stocks "a mid-cycle correction," fueled by questions about how companies will finance massive capital spending rather than weaker demand. He said he expects "a very significant AI bull market by mid next year."
He expects the semiconductor index to reach a new all-time high by mid-2027. He said the odds are far greater that the 10-year Treasury yield falls to 4.5% than that it rises to 6%.
Read also: NEAR Executive Says Network Is Better Prepared Than Bitcoin For Crypto’s ‘Black Swan’
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