Reza Bundy, CEO of Atlas Capital and business partner of 'Dr. Doom' Nouriel Roubini, forecasts a 70% decline in bitcoin over the next six months, potentially dropping to $26,000-$30,000, before eventually reaching $150,000-$500,000 in the long term. Speaking at the Proof of Talk conference in Paris, Bundy said the short-term crash would be driven by a broader stock market correction akin to 2008 or 1929, with bitcoin doubling the debt loss of equities. Bitcoin is currently trading around $63,000, down 28% this year, while the S&P 500 and Nasdaq have rallied. Bundy criticized bitcoin as a failed inflation hedge and a volatile risk asset moving in lockstep with tech stocks. However, he remains long-term bullish, citing rising government debt, central bank money printing, and declining trust in fiat currencies. His optimism aligns with bitcoin's original promise as an alternative currency. Atlas Capital uses a 'techno-dollar' AI-driven allocation strategy via the USAF ETF, which does not currently include bitcoin due to the predicted crash. Bundy plans to tokenize the fund on public blockchains later this month.

Key facts

• Atlas Capital CEO predicts 70% bitcoin crash to $26,000-$30,000 within 6 months.
• Long-term target of $150,000-$500,000 based on government debt and inflation.
• Criticizes bitcoin as failed hedge, moving in lockstep with tech stocks.
• Atlas Capital's USAF ETF avoids bitcoin until after predicted crash.
• Fund plans tokenization on public blockchains later this month.

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