Dan Tapiero: Blockchain Will Power the Financial Layer of Artificial Intelligence
MIAMI BEACH, Fla. — Dan Tapiero, founder of crypto-focused investment firm 50T Holdings, says the convergence of blockchain and artificial intelligence will define the next major wave of digital innovation — and he’s already positioning for it.
“Blockchain is the money of AI,” Tapiero told CoinDesk in an interview. “Imagine thousands of autonomous AI agents operating independently — they’re not going to send bank wires from JPMorgan. They’ll transact through smart contracts running on blockchains.”
Tapiero said around 20% of 50T’s upcoming fund, currently raising capital through early 2026, will target companies building at the intersection of AI and blockchain. Though he admits “many of those firms don’t exist yet,” he expects the sector to become “a genuine investment category within the next five years.”
Bitcoin Outlook: Patience Before the Next Breakout
Despite Bitcoin’s subdued performance, Tapiero remains confident in its long-term trajectory. His price target of $180,000, first set in early 2023, remains unchanged. He expects the world’s largest cryptocurrency to stabilize around $100,000 before resuming its uptrend.
“Markets gravitate toward round numbers — it’s psychological but powerful,” he said. “Once Bitcoin holds $100K, the next leg could easily reach $180K, maybe by next summer.”
Bitcoin has been range-bound between $101,000 and $124,000 for six months, trading near $103,000 this week. Tapiero cautioned investors against short-term speculation. “This is the hardest market I’ve ever tried to trade,” he said. “Having a short-term view in this environment is nearly impossible.”
Institutional Advantage in an Undercrowded Market
With $2 billion in assets under management and 24 portfolio companies, 50T Holdings is one of the few growth-stage equity funds exclusively focused on crypto. Tapiero said institutional hesitance following the FTX and Celsius collapses has created unique buying opportunities among firms earning $50–100 million in annual revenue.
“We’re the only dedicated crypto growth fund in the world — we don’t do seed or venture,” he said. “Right now, we’re dictating pricing.”
50T has completed six exits this year, including IPOs for Circle (CRCL), Gemini (GEMI), and eToro (ETOR), as well as Coinbase’s (COIN) acquisition of derivatives exchange Deribit. While listed crypto firms trade at 10–20 times revenue, Tapiero said private valuations remain deeply discounted.
Tokenization vs. DeFi: Two Diverging Narratives
Tapiero said the recent hype around tokenized real-world assets (RWAs) is premature, with adoption still limited. “There’s a lot of noise but not much execution yet,” he said, citing Securitize and Figure as early pioneers.
Conversely, he sees decentralized finance (DeFi) as regaining strength, already surpassing 2021 activity levels. He noted that metaverse and gaming sectors remain depressed, offering potential upside once sentiment shifts.
The Future: AI Agents on Chain
Looking ahead, Tapiero believes the next evolution of digital infrastructure will emerge from AI systems transacting autonomously through blockchain networks.
“I don’t even know who those companies are yet,” he said. “But that’s where the world is heading — toward a digital economy where blockchain becomes the financial backbone of AI.”
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