Atlas Capital CEO warns BTC could crash 70% before hitting…

Reza Bundy, CEO of Atlas Capital and business partner of economist Nouriel Roubini, is warning that Bitcoin could shed as much as 70% of its value within the next six months — targeting a floor between $26,000 and $30,000 — before eventually climbing as high as $500,000 in the years ahead. Speaking at the Proof of Talk conference in Paris, Bundy told CoinDesk: "If there's a drawdown in the stock market that's even half of what happened in 2008, Bitcoin will double that debt loss."

Why it matters

Bundy's framework is built alongside Roubini — the economist who correctly called the 2008 subprime crisis and has remained a persistent BTC skeptic ever since. The near-term thesis rests on Bitcoin's increasing correlation with tech equities: Bundy argues the asset has failed as an inflation hedge and now trades as a high-beta risk asset. That view echoes recent comments from Mark Cuban, who said he sold most of his Bitcoin after it failed to behave as a hedge during geopolitical stress.

Longer term, Bundy maps four macro scenarios. Under "Fiscal Dominance" — a 25% probability path where governments print money to cover sovereign debt — he sees BTC reaching $250,000 to $500,000. Even his base case "Controlled Expansion" scenario (40% probability) puts Bitcoin at $150,000 to $250,000. His fund, the USAF ETF on Nasdaq, currently holds no BTC; he says he is waiting for the crash to clear before deciding whether to add exposure.

Market impact

A 70% drawdown from current levels would represent one of Bitcoin's sharpest corrections on record, comparable to the 2018 and 2022 bear markets. The $26,000–$30,000 target zone aligns with prior cycle support but would wipe out a significant portion of recent gains.