Bitcoin (CRYPTO: BTC) may be battling numerous risks, but macro analyst Joe Consorti says its resilience could be a stronger signal than investors realize.
Bitcoin’s Resilience Stands Out
Speaking on “The Exit Manual” on Aug. 13, Consorti and host Julian Figueroa discussed risks ranging from quantum computing and protocol disputes to self-custody vulnerabilities and Bitcoin’s weakening relative returns.
Yet, Consorti highlighted BTC’s ability to withstand those pressures. “Nothing can move this thing lower,” he said, pointing to BTC holding around $64,000 despite tight monetary policy, geopolitical uncertainty and technical controversies.
Bitcoin has fallen roughly 50% from its highs, but Consorti noted previous cycles produced drawdowns of 70%-90%.
“The resilience of Bitcoin is sort of the story that I think is very telling here,” he said.
Consorti identified quantum computing as a credible long-term threat, though he argued freezing potentially vulnerable coins could undermine Bitcoin’s censorship-resistant properties.
ETFs May Make More Sense For Some Investors
Consorti also challenged the idea that Bitcoin is appropriate for everyone, particularly investors approaching retirement who may not have enough time to recover from a prolonged bear market.
“If you’re planning on retiring within four years, no,” he said, while arguing younger investors may be better positioned to tolerate Bitcoin’s volatility.
On custody, Consorti said spot Bitcoin ETFs may be the simplest option for many U.S. investors seeking price exposure. More sophisticated holders could consider multisignature custody.
Why Bitcoin Could Reach $1 Million
Despite the risks, Consorti remains strongly bullish long term, citing persistent U.S. fiscal deficits, rising government debt and increasingly rapid policy intervention during periods of financial stress.
He expects recurring monetary expansion to benefit scarce assets such as Bitcoin and gold, even as AI stocks compete with crypto for investor capital.
“I’m very comfortable saying within the next decade, before 2036, Bitcoin will be a $1million a coin,” Consorti said.
In the near term, he sees Bitcoin around a broader “bottoming zone” and has increased his dollar-cost averaging as BTC trades near its 200-week moving average.
Consorti cautioned against waiting for a perfect $40,000 to $50,000 entry, arguing investors could miss the opportunity if another major leg lower never materializes.
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