"For the first time in history, the biggest beneficiary of the dollar exodus was Bitcoin," wrote Joshi.
He argues that Bitcoin, like gold, benefits from the growing perception that it is a non-confiscable asset in a fragile fiat system.
"If that’s the case, then all three components of Bitcoin's value will rise significantly in the coming months and years," said Joshi, suggesting that his previous price target of $200,000 may be too low.
