Now that bitcoin (BTC-USD) breached the crucial psychological $100K mark, what’s next for the cryptocurrency? One investor is confident that it will continue to rise in the coming calendar year. Matt Kohrs, YouTuber and “The Matt Kohrs Show” host, tells Wealth! host Brad Smith that he sees two paths ahead for bitcoin: “It’s either the best store of value ever created, or we’re looking at another tulip mania that is maybe on the precipice of popping.” Kohrs is positive on bitcoin, citing its performance against the U.S. dollar. “Now, in the short term, your guess is as good as mine. We might as well just be flipping a coin. But in the long term, if this idea of a store of value and the US dollar always being devalued, I think bitcoin goes higher and higher.” When it comes to the next major milestone for bitcoin, Kohrs says, “I think the next big psychological level in terms of US dollar value will be 250,000, which I want to make clear, I do believe is very possible in the upcoming calendar year.” He’s less positive when analyzing the fundamentals of GameStop (GME) and other so-called “meme stocks.” Kohrs says, “When I look at the entire investable universe, GameStop’s not really a top tier one because we don’t have much forward direction from the company and the company’s leadership at this moment in time.” Instead, he suggests these retail investors have more to gain from companies with stronger fundamentals, including Tesla (TSLA) and Palantir (PLTR).
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