Investment Manager Says U.S. Could Revalue Bitcoin to $1M in Radical Monetary Reset
Lawrence Lepard, an investment manager, outlined a speculative scenario on the What Bitcoin Did podcast in which a U.S. administration led by President Trump and Treasury Secretary Scott Bessent could execute a radical monetary reset. Under Lepard’s proposal, the government would formally revalue Bitcoin to $1,000,000 per coin and gold to $30,000 per ounce, then permit citizens to exchange dollars for those assets at fixed rates. Lepard frames this as a way to end the post‑1971 fiat regime and restore a hard‑asset standard, arguing it could stabilize the currency long term but would be extremely painful for bondholders and carry major political resistance. He assigns roughly a 10% probability to the outcome. Reactions among commentators were mixed: some view it as a one‑time corrective to rampant money printing, while others dismiss it as politically and practically unlikely. The piece notes Trump’s pro‑crypto gestures to date are limited, and cites current year‑to‑date performance figures: gold up ~21.6% (reported at $5,262 in the article) and Bitcoin up ~1.58% (reported at $88,899). Disclaimers emphasize this is informational and not financial advice.
Neutral
The story is speculative and policy‑oriented rather than an immediate market event. Lepard’s proposal—state revaluation of BTC to $1M and gold to $30k—is dramatic but assigned a low (~10%) probability and faces severe political, legal and economic obstacles. Short-term market impact is likely limited: traders typically react to concrete policy actions, regulatory changes, or macro data, not theoretical reset scenarios. The article could, however, fuel narrative-driven volatility: bullish headlines about a potential state‑backed BTC standard can attract retail speculation and cause price spikes on rumor; conversely, skepticism and political feasibility concerns can dampen momentum. In the long term, if any credible policy steps toward formal asset recognition were announced, that would be bullish for BTC and gold and bearish for fiat‑denominated bonds—mirroring past episodes where credible central bank shifts (e.g., surprise inflation targets or redenomination) moved markets materially. Historically, claims of imminent monetary resets rarely materialize and usually produce transient market reactions followed by mean reversion. For traders: treat this as a thematic news item that can increase sentiment volatility and headlines-driven flows, but do not view it as a basis for fundamental repositioning unless concrete policy measures emerge.