The price of Bitcoin has really taken off post-election, as investors and traders place their bets on a seemingly more crypto-friendly president-elect, Donald Trump, who’s White House bound. Undoubtedly, Trump’s presidential win has also increased the appetite for high-risk/high-reward types of assets.

Notably, the tech stocks stand to benefit from a positive one-two combo of lower corporate tax rates and the potential for a more relaxed regulatory environment. Though it’s tough to tell where the “Trump 2.0” trade takes us next, one can’t help but feel outright euphoric over the Bitcoin price predictions out there.

As the Trump Bitcoin bump looks to continue into year’s end, Kevin O’Leary’s near-term price prediction may prove spot on.

Key Points About This Article

• Kevin O’Leary expects Bitcoin to head into the holidays with a six-figure price.
• Bitcoin’s Trump bump may not be over yet.

Mr. Wonderful’s $100k Bitcoin call is looking pretty wonderful.

Indeed, Kevin O’Leary — a man we fondly know as Mr. Wonderful — recently gave his take on Bitcoin, calling for prices to hit the $100,000 mark before the holiday season. Undoubtedly, the Trump win has been a significant catalyst for the cryptocurrency, which now finds itself flirting with $93,000. With another 8% move higher to hit O’Leary’s target in around a month’s time, I think there’s a good chance O’Leary may have proven too conservative with his bold Bitcoin call.

Mr. Wonderful isn’t the only major bull on Wall Street with skin in the game. Famed innovation investor Cathie Wood, who’s behind the Ark Invest line of funds, thinks Bitcoin at $1.5 million by 2030 isn’t all too outlandish.

Either way, it’s not hard to imagine many retail investors who were skeptical in the past are now just starting to check out the asset class as a place to effectively diversify their portfolios.

Some may view Bitcoin and crypto as some sort of “digital gold.” And though there are some similarities between gold and Bitcoin (most notably, both assets that investors pay up for despite lacking any intrinsic value), Bitcoin’s post-election pop seems to suggest it’s a risk-on asset, unlike gold, which is a risk-off asset that tends to be bid higher as investors run for the hills.

Indeed, gold’s post-election drop (of nearly 8%) is in stark contrast to Bitcoin’s post-election pop. Personally, I think investors ought to treat Bitcoin as a hot, volatile stock rather than a replacement for gold. Sure, “digital gold” sounds good on paper, but it doesn’t quite move in the same way as the real thing.

O’Leary’s a fan of the long-term runway for Bitcoin

Apart from acting as another portfolio diversifier, O’Leary thinks there’s an opportunity for Bitcoin to play a bigger role in the global economy. Indeed, if the Trump administration makes Bitcoin-friendly moves (think regulatory moves that embrace the cryptocurrency), it’s not hard to imagine the cryptocurrency winning over many of the skeptics who’ve held off on investing in the new-age asset. 

In any case, the public seems to feel a heck of a lot better about the future of the asset as Trump looks to make moves to legitimize the asset further. Further, with Elon Musk standing in his corner, Bitcoin and other cryptos may very well be coming into their own after many years of regulatory unknowns.

Finally, Bitcoin has become much more accessible, with new Bitcoin exchange-traded funds (ETFs) that have popped up in recent years. While the fees are quite modest to keep up with the growing competition in the Bitcoin ETF scene, O’Leary seems to be a bigger fan of owning Bitcoin outright.

After all, there are no fees if you own the actual asset!

For many, opting for a Bitcoin ETF product is simply a matter of convenience. And for those investing a rather limited sum (far less than Mr. Wonderful!), the fees may be worth the added convenience of exposing oneself to one of the most intriguing, fast-rising asset classes of all time. The iShares Bitcoin Trust (NASDAQ:IBIT) is my preferred choice for those who choose to go down the ETF route.

In short, O’Leary is a believer in Bitcoin. As the Trump rally continues, I think it’s just a matter of time before the man’s $100k call comes to fruition.

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