Bitcoin fell more than 3% to trade at approximately $81,000 on Thursday, yet former NBA champion Tristan Thompson remains steadfast in his prediction that the cryptocurrency will reach $110,000 by the end of the year. That projected target sits roughly 35% above the digital asset’s price level at the time of the decline.
Midterm Elections As The Catalyst For Higher Valuation
“We get through this midterm elections and it runs back up to 110,” Thompson told Cointelegraph in a recent interview. During the same exchange, the former professional basketball player initially stated a target of “210” before immediately correcting his projection to $110,000.
Despite short-term market fluctuations that pushed Bitcoin down on Thursday, Thompson maintains a long-term bullish outlook on the cryptocurrency. He routinely compares Bitcoin to digital gold and retirement savings accounts like a 401(k), encouraging market participants to maintain an extended investment horizon while he continues accumulating BTC daily.
Thompson Offsets Altcoin Losses with Solana Fees
Beyond his Bitcoin holdings, Thompson detailed a mixed track record across various altcoins and tokens during his interview. His most successful venture involved an early-stage investment in Cash Cat when the token’s market capitalization hovered around $3 million.
Not every digital asset trade yielded profits. Thompson described repeatedly purchasing a creator-backed token as its market capitalization approached $9 million, only to watch the price suffer a sharp collapse. He managed to offset those losses by collecting liquidity-providing fees on Solana, leaving his overall trading position approximately breakeven or down only a few hundred dollars.
Reflecting on those market swings, Thompson warned retail participants against borrowing too much to trade and risking entire portfolios on highly speculative bets.
Positions In Zcash, NEAR Protocol, And Meme Coins
Thompson disclosed that he recently secured profits on NEAR Protocol while maintaining an active long position in Zcash using borrowed funds. He pointed to Zcash’s privacy features alongside its potential expansion into traditional payments and neo-banking as the primary growth drivers for the asset.
In addition to privacy coins, Thompson expressed ongoing optimism regarding meme coins. He specifically highlighted trading platforms that integrate speculative tokens with tokenized equities and provide access to pre-IPO investment opportunities.
Plans For United States Bitcoin Mining Operations
Expanding beyond trading and holding digital assets, Thompson revealed strategic ambitions to acquire physical Bitcoin mining facilities and data centers. He pointed to the potential for securing lower electricity costs as the core economic driver behind the infrastructure investment.
Under favorable operational conditions in the United States, Thompson estimated that the cost to mine a single Bitcoin can range between $45,000 and $50,000.
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