Harry Dent, a well-known economist, recently shared his thoughts on Bitcoin. He believes it could soar to anywhere between $800,000 and $1 million by 2037 or 2040.
During an interview with Fox News, Dent raised some concerns about the current market. He said, “When everybody gets on the boat, that’s when the Titanic sinks.” This suggests he thinks the market might be nearing its peak.
Dent predicts a significant market crash, which he calls an “everything bubble,” will burst in 2025. This could lead to a depression. However, he sees this downturn as a major buying opportunity for Bitcoin (BTC/USD).
He stated, “Bubbles never, ever end well. There’s no way to go from an extreme bubble and have a soft landing.” Dent encourages people to prepare for market changes by 2025.
He discussed the current market rally, which has pushed Bitcoin and the SPDR S&P 500 (SPY) to new highs after Donald Trump’s election. Dent believes this rally won’t last long. He likened the situation to being on the Titanic, saying, “I think everybody’s in the boat about now.”
According to Dent, Trump’s fiscal policies won’t be enough to prevent a crash. He attributes the underlying economic issues to private debt rather than federal debt. He estimates that total private sector debt in the U.S. is around $630 trillion and is growing much faster than global GDP. He predicts the downturn will likely start in mid-2025. “The question mark is, when does the darn thing start?” he asked.
On the topic of Bitcoin, Dent mentioned that he has recently bought more of it. He believes Bitcoin will help support markets through the first half of 2025. However, he cautioned that a broader market crash could bring Bitcoin’s price down to around $15,000 or $16,000, which he sees as “the buy of a lifetime.”
In summary, Dent remains optimistic about Bitcoin’s long-term potential. He firmly believes it could reach between $800,000 and $1 million by 2037 or 2040.