Mexican Billionaire Issues $1.516 Million Bitcoin Price Target

Mexican billionaire Ricardo Salinas Pliego has said Bitcoin could rise to $1.516 million as gold reached a $30 trillion market value.

The statement comes as gold enters what traders call the euphoria phase, with some analysts expecting money to move soon from gold into Bitcoin.

Don Ricardo’s Bitcoin Projection

Ricardo Salinas Pliego, one of Mexico’s richest businessmen, believes Bitcoin has a long way to go.

In a post on X, he said Bitcoin would have to rise at least 14 times to match gold’s new record market value.

That would place the price of one Bitcoin around $1.516 million. He added that even after reaching that point, Bitcoin would still outperform gold.

Pliego made this comment in response to a post by The Kobeissi Letter, which reported that gold had officially become the first asset in history to reach a $30 trillion market capitalization.

The post described the event as a global rush into gold. According to a table shared in the same report, gold currently tops the list of the world’s largest assets.

It is ahead of companies such as NVIDIA, Microsoft, and Apple. Bitcoin sits in eighth place, with a market value of about $2.156 trillion and a current price above $108,000.

The significant disparity between gold and Bitcoin has sparked discussion among traders and investors.

Some see it as a sign that Bitcoin could be the next target for big capital flows. This is especially true as global liquidity continues to grow.

Others believe it demonstrates that gold continues to hold its traditional position as a safe store of value in uncertain times.

Gold’s Euphoria Phase and What Comes Next

Gold prices have reached new record levels, climbing past $4,300 per ounce and trading around $4,350 by Friday morning.

Analysts attribute this rise to global uncertainty, falling bond yields, and a weaker US dollar.

Reports of stress in regional US banks and lower Treasury yields have made gold more attractive to investors seeking safety.

However, some market watchers now believe gold is showing signs of entering its euphoria phase.

Crypto trader Ash Crypto noted that gold’s price pattern aligns with the emotional stages that often precede a market peak.

He predicted that gold could reach a local top around late October, after which funds might start to move into Bitcoin.

He also shared a familiar “market cycle” chart showing the emotions investors often go through: hope, optimism, belief, thrill, and finally euphoria.

All this happens before prices drop. If that plays out, gold might face a cooling period, while Bitcoin could benefit from the shift in sentiment and liquidity.

Notably, this view has garnered attention as traders seek the next significant move in global markets.

Many now believe the strong demand for gold could soon slow down, creating space for a new wave of buying in digital assets.

M2 Liquidity Points to a Coming Shift

Another analyst, known as Merlijn The Trader, compared global M2 liquidity with gold and Bitcoin prices.

His chart showed that M2, an indicator of total money in circulation, is rising fast, while gold has followed that trend closely. Bitcoin, on the other hand, has yet to catch up.

He pointed out that this kind of gap does not usually last long.  According to him, Liquidity always finds risk.

This suggests that as the money supply expands, investors will seek higher returns, potentially in Bitcoin.

This idea has gained popularity among traders who believe that the next significant shift in investment funds could favor cryptocurrencies.

If that happens, Bitcoin might see a sharp rise similar to previous cycles where money flowed from traditional assets into riskier ones.