Atlas Capital CEO Reza Bundy warned that Bitcoin could lose up to 70% of its current value in the next six months. Bundy pointed out the $26,000 to $30,000 range as a possible bottom zone for the price.
Warning of a sharp decline in the short term
In his assessment at the Proof of Talk conference held in Paris, Bundy argued that if there was a deterioration in stock markets half as bad as the 2008 financial crisis, Bitcoin could be affected twice as much. At the time of the announcement, Bitcoin was trading at around $63,000 and its year-to-date loss was approaching 28%.
Bundy said that they expect a very sharp decline in Bitcoin in the next six months, and that this decline could reach up to 70%.
Atlas Capital is known as a company operating in the field of investment consultancy. Bundy’s partner is economist Nouriel Roubini, known for his early warnings about the 2008 global financial crisis. Roubini has long stood out with his critical approach to Bitcoin.
Partnership with Roubini, diverging view in the long term
As reported in the news, Roubini has described Bitcoin as a speculative asset in the past and found it weak compared to traditional safe havens such as gold. Bundy also remains close to this cautious line in the short term. However, it was stated that the two differed in the long-term outlook.
Bundy suggested that Bitcoin was not meeting expectations in its function as an inflation hedge, instead moving closer to technology stocks. He associated this opinion with the crypto asset’s failure to show the expected defensive performance during periods when the dollar weakened.
A range of $150,000 to $500,000 was predicted in the long term
Despite the short-term negative outlook, Bundy also argued that Bitcoin could rise to the $150,000 to $500,000 range in the future, depending on different macroeconomic scenarios. In the controlled expansion scenario, the price range was predicted to be between $150,000 and $250,000, and in the financial dominance scenario, the range was predicted to be $250,000 to $500,000.
| Scenario | Possibility | Bitcoin expectation |
|---|---|---|
| Controlled expansion | 40% | $150,000 to $250,000 |
| financial dominance | 25% | $250,000 to $500,000 |
| global conflict | 20% | Turbulence in the first stage, then the strengthening of the value retention narrative |
| Deflationary recession | 15% | Pressure until liquidity returns |
Bundy stated that the basis of this long-term optimism lies in Bitcoin’s potential to provide an alternative to fiat currencies in the face of public debt and expansion in money supply.
The fund’s current position does not include Bitcoin
It was reported that Atlas Capital manages an ETF traded on Nasdaq under the code USAF. Fund; It distributes products to areas such as precious metals, agricultural commodities, real estate and military technology with artificial intelligence-supported algorithms. According to the news, the fund’s net asset size is approximately $18 million and its return since its establishment is 8.7%.
Mini dictionary: ETF stands for exchange-traded fund. This structure offers investors access to multiple assets through a single product; Nasdaq is one of the leading technology-oriented stock exchanges in the USA.
Bitcoin is not currently included in the fund portfolio. Bundy said that they will not make the final decision on whether the crypto asset will be added to the fund before the expected correction occurs. It was also stated that the fund is planned to be tokenized on public blockchain networks next month.
Bundy stated that they will make the final decision on whether Bitcoin will be included in the portfolio after the correction.
