John Pfeffer

KKR partner's model: Bitcoin worth $200K-$800K per coin

Simpson cites John Pfeffer's paper 'An Institutional Investor's Take on Crypto Assets', which models Bitcoin penetration of M1 money supply and backs into a $200K-$800K per coin valuation. (Episode aired 2019 when BTC was ~$10K.)

“And basically he does the math looking at what is M1 money supply, what if Bitcoin achieves, you know, 10%, 50%, 100% penetration of these various kind of segments of the money sphere that you could look at. And he backs into a $200K to $800K-ish prediction or, you know, potential.”