MarketsShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmail'Dr. Doom'-backed Atlas Capital CEO warns of potential 70% drop in bitcoin before hitting $500,000
Reza Bundy, CEO of Atlas Capital, has issued a short-term warning for bitcoin while maintaining a long-term bullish outlook, backed by economist Nouriel Roubini.
By Olivier Acuna|Edited by Aoyon AshrafUpdated Jun 4, 2026, 6:21 p.m. Published Jun 4, 2026, 6:15 p.m. 4 min readMake preferred on
Key Points:
- Atlas Capital's Reza Bundy warns that bitcoin could plummet by 70% in the next six months, particularly if the stock market experiences significant losses.
- Bundy aligns with Roubini's bearish outlook for the near term but envisions bitcoin reaching between $150,000 and $500,000 in the long run, influenced by various economic conditions.
Reza Bundy, the CEO of Atlas Capital and associated with longtime bitcoin skeptic Nouriel Roubini, forecasts a potential 70% drop in bitcoin's value over the next half year, followed by a rise to as high as $500,000 in subsequent years.
During an interview with CoinDesk at the Proof of Talk conference in Paris, Bundy expressed a sobering macroeconomic perspective that contrasts sharply with the usual optimism found in the cryptocurrency sector.
“We anticipate a significant decrease in bitcoin's value within the next six months,” Bundy stated, supporting Roubini’s long-standing viewpoint. “This drop could be as much as 70%. We believe the price could settle between $26,000 and $30,000. If the stock market undergoes a decline similar to what was seen in 2008, bitcoin's losses could be even greater.”
Currently, bitcoin BTC$63,819.82 is trading around $63,000, reflecting a nearly 28% decline this year, while stock markets have surged, propelled by AI developments and investor enthusiasm. The S&P 500 has increased by 10%, and the Nasdaq has risen by about 19%, surpassing bitcoin's performance during the same timeframe.
'Dr. Doom'
Bundy attributes his pessimistic forecast to data and insights derived from his Chief Economist and Co-founder, Dr. Nouriel Roubini, famously known as "Dr. Doom" for his accurate predictions regarding the 2008 financial crisis.
Roubini's critical stance on bitcoin dates back to the 2017 bull market, where he deemed it a bubble. Despite bitcoin's impressive rise of roughly 850% since Roubini’s initial warning, he has consistently maintained a negative outlook on the cryptocurrency.
In recent evaluations shared on Bloomberg, Roubini reiterated his belief that bitcoin is merely a "pseudo-asset class" and a speculative investment devoid of intrinsic value or practical application, unlike genuine economic safeguards such as gold.
Bundy somewhat mirrors this grim outlook for bitcoin in the short term, asserting that it has not succeeded as an inflation hedge as many advocates claim and is instead a highly volatile asset that moves in correlation with technology stocks.
While bitcoin supporters may contest this assessment, citing the asset's historical returns and finite supply, Bundy's critique resonates with comments from billionaire investor Mark Cuban, who recently indicated he has divested most of his bitcoin holdings after it failed to perform as a hedge during periods of geopolitical tension and dollar depreciation.
Bitcoin's Original Promise
However, Bundy does not maintain a consistently negative view of bitcoin.
He continues to endorse bitcoin's potential as a 'store of value' and remains optimistic about its long-term prospects. Bundy's future projections suggest a price range of $150,000 to $500,000, which contrasts with his Atlas partner Roubini's outlook.
This optimism is rooted in bitcoin's foundational promise as an alternative currency that counters global economic and political instability. Bundy believes that bitcoin's future growth will be driven by escalating government debt, arbitrary money printing by central banks, and diminishing confidence in traditional currencies, aligning with the vision originally laid out by Satoshi Nakamoto.
Bundy supports his optimistic long-term view by outlining four potential economic scenarios:
- In a scenario termed "Controlled Expansion" (40% likelihood), the world experiences steady growth and stable inflation, pushing bitcoin's price to between $150,000 and $250,000.
- If "Fiscal Dominance" prevails (25% likelihood), rampant money printing to address government debts could lead to high inflation, boosting bitcoin's value to between $250,000 and $500,000.
- The "Global Conflict" scenario (20% likelihood) involves significant security crises, such as in Taiwan or the Middle East, causing initial market panic but ultimately validating bitcoin as a secure asset.
- In a "Deflationary Recession" (15% likelihood), a severe credit freeze could weaken bitcoin until central banks intervene with liquidity support.
'Techno-Dollar' Strategy
In the short term, however, Bundy foresees a looming global financial crisis. He cautions that the traditional stock market is a bubble poised to burst, similar to the crash of 1929, a notion that also shapes Atlas Capital's investment approach known as the "techno-dollar."
Rather than linking digital assets to a single depreciating government currency, Bundy asserts that this strategy employs AI-based allocation models to diversify investments across various assets, including gold, food, real estate, and defense technologies. Atlas currently implements this asset allocation strategy through an ETF with the ticker "USAF" on the Nasdaq, which has approximately $18 million in net assets and has returned 8.7% since its inception, according to TradingView data. Bundy also plans to tokenize this fund on public blockchains later this month.
When asked why bitcoin is not included in the fund despite his long-term bullish stance, Bundy explained that he intends to wait for the anticipated short-term market crash to pass before making any decisions regarding bitcoin's inclusion.
"We believe there will be a significant correction in the stock market, and we prefer to avoid the bitcoin downturn. After the correction, we will decide whether to include it or not."
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