Billionaire hedge fund manager Philippe Laffont is a new Bitcoin fan and recently he made it clear about being bullish on the cryptocurrency.

The evolving stance of Coatue co-founder Philippe Laffont on Bitcoin coupled with his market insights and broader investment philosophy offer a compelling glimpse into the future of technology and finance.

Philippe Laffont’s take came as Coatue shared new insights into Bitcoin’s journey in recent years and where it might be headed next.

According to Coatue’s projections, Bitcoin’s market cap could hit $5.2 trillion by 2030.

That would mark a 153% jump from where it stands today, potentially making Bitcoin the third most valuable asset globally, just behind Microsoft and Nvidia, and overtaking giants like Amazon, Meta, and Tesla.

Philippe Laffont is widely regarded as a visionary investor, thanks to his early bets on transformative technology companies such as Snap, Spotify, and ByteDance.

Under his leadership, Coatue grew into a major force in technology investing, with a reputation for spotting and backing innovative companies in both public and private markets. 

Despite his success in tech, Philippe Laffont remained cautious about Bitcoin and the broader cryptocurrency space for years, citing concerns over its notorious volatility and lack of tangible backing.

But recently, Bitcoin’s appeal to institutional investors like Philippe Laffont has grown significantly as its price volatility subsided.

Once dismissed for its unpredictable swings, Bitcoin is now being recognised as a more stable asset, which has helped attract serious interest from large financial players.

Adding to this momentum, major institutions like BlackRock have entered the crypto market, launching Bitcoin ETFs and bringing greater legitimacy to the asset class.

Philippe Laffont sees this as a turning point, suggesting that even more institutional investors are likely to follow.

He also points out that Bitcoin’s “beta value,” a key measure of its volatility compared to the broader market has decreased.

This development makes Bitcoin a more practical choice for portfolio diversification, especially as its relationship with traditional assets continues to evolve.

This is not the first time Philippe Laffont or Coatue has taken an optimistic tone on Bitcoin.

Last week, the billionaire observed that with reducing volatility, Bitcoin can become a “more central” part of investors portfolios.

“It’s intriguing to me that the cost of getting into Bitcoin is shrinking,” Laffont said at Coinbase’s State of Crypto Summit in New York City. “If the beta shrinks, that would be very interesting,” he added.

He even called himself an ‘idiot’ for missing the opportunity to invest in Bitcoin on time. “Every night, I wake up at about three in the morning and I go, ‘What an idiot. Why didn’t I invest more in Bitcoin?’” he said.

The post Billionaire Philippe Laffont thinks Bitcoin will surpass Amazon, Meta by 2030; here's why appeared first on Invezz

157 +