Dan Tapiero: AI and Blockchain Set to Power the Next Big Technology Wave
MIAMI BEACH, Fla. — Veteran investor Dan Tapiero, founder of 50T Holdings, is betting that the convergence of artificial intelligence (AI) and blockchain will define the next major cycle in digital innovation — one the market has yet to fully appreciate.
“Blockchain is the money of AI,” Tapiero told CoinDesk during the Cantor Fitzgerald Crypto, AI and Blockchain Conference. “If you imagine thousands of autonomous AI agents operating independently, they’re not going to send wires through JPMorgan — they’ll transact using smart contracts on-chain.”
Tapiero said that roughly 20% of 50T’s upcoming fund, which is in fundraising mode through early 2026, will target startups building at the intersection of blockchain and AI. While many of these companies “don’t yet exist,” he believes the sector will crystallize within the next five years as a major investment category.
Long-Term Bitcoin Target: $180,000
Tapiero maintains a $180,000 price target for Bitcoin, first set in early 2023, predicting a consolidation period near $100,000 before the next leg higher.
“Markets gravitate toward round numbers — it’s psychological but real,” he said. “Once Bitcoin stabilizes above $100K, the next move could take it to $180K, possibly by next summer.”
Bitcoin has traded between $101,000 and $124,000 for the past six months and now sits around $103,000. Tapiero cautioned traders against short-term speculation, calling current conditions “the hardest market I’ve ever traded” in his 25 years in traditional finance.
Growth-Stage Opportunity in Crypto
With $2 billion in assets under management, 50T Holdings is one of the few growth equity firms dedicated solely to the digital asset sector. Tapiero said post-crisis caution from traditional investors — following the collapses of FTX and Celsius — has created some of the most attractive entry points he’s ever seen.
“We’re the only growth equity fund globally focused entirely on crypto,” he said. “We don’t do seed or venture — we back real companies with $50 to $100 million in revenue, and right now, we’re setting pricing.”
The firm has recorded six exits this year, including IPOs for Circle (CRCL), Gemini (GEMI) and eToro (ETOR), as well as Coinbase’s (COIN) acquisition of derivatives platform Deribit. While public valuations have expanded to 10–20x revenue, Tapiero said private market pricing remains “well below fair value.”
Tokenization Overhyped, DeFi Underappreciated
Despite enthusiasm around real-world asset (RWA) tokenization, Tapiero said the trend remains more narrative than reality. “There’s a lot of talk, but adoption hasn’t really happened yet,” he said, noting firms like Securitize and Figure as early but isolated movers.
By contrast, decentralized finance (DeFi) activity has already surpassed 2021 levels, Tapiero said, calling it a key area of renewed strength. He added that metaverse and blockchain gaming projects remain at cyclical lows, suggesting long-term upside.
Positioning for the Next Infrastructure Cycle
Looking ahead, Tapiero believes the AI-blockchain crossover will create a new class of digital infrastructure firms — companies that enable autonomous AI agents to transact, govern, and build value entirely on-chain.
“I don’t even know who those companies are yet,” he said. “But I’m sure that’s where this is going — and we plan to be there first.”
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