Crypto Investor Dan Tapiero Sees AI-Blockchain Crossover Fueling Next Big Wave
Dan Tapiero, founder of 10T Holdings, is optimistic about the convergence of blockchain and artificial intelligence (AI), seeing blockchain as the financial foundation for autonomous AI agents. His firm plans to allocate 20% of its next fund to companies at this intersection, despite such firms not yet existing at scale. He maintains a bullish outlook on Bitcoin, expecting it to consolidate at $100,000 before rising to $180,000 by mid-2024, though he cautions against short-term trading in the volatile crypto market. With $2 billion in assets under management, 10T Holdings has seized opportunities in undervalued, growth-stage crypto firms, capitalizing on reduced competition after high-profile crypto collapses. Tapiero remains skeptical of the rapid adoption of tokenized real-world assets but sees promise in decentralized finance (DeFi). His focus is on the emerging infrastructure connecting blockchain and AI agents, which he believes will underpin the digitized economy.
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Convergence of AI and Blockchain Technology
Dan Tapiero, founder of crypto-focused growth equity fund 10T Holdings, predicts a convergence between artificial intelligence (AI) and blockchain technology in ways that the market has not fully priced in. “Blockchain is the money of AI,” Tapiero said during an interview with CoinDesk. He elaborated that autonomous AI agents in the future would rely on smart contracts embedded on blockchains, rather than traditional financial systems like JPMorgan.
Investment Focus on AI and Blockchain Companies
Tapiero expects around 20% of 10T's next fund, currently raising capital through early 2026, to be allocated to companies working at the intersection of AI and blockchain. He acknowledged that these companies “don’t even exist yet” at significant scale, but expressed confidence that over the next five years, this will evolve into a major industry category.
Bitcoin Price Predictions
Tapiero remains strongly bullish on Bitcoin’s trajectory, maintaining his target price of $180,000 since early 2023. He anticipates Bitcoin will first consolidate at $100,000, calling it a key psychological anchor for investors. “Markets move toward round numbers. It’s silly, but it’s real,” he said. He expects Bitcoin to potentially reach $180,000 by summer next year, cautioning traders against short-term impatience, as Bitcoin has recently been trading within the $101,000 to $124,000 range.
10T Holdings' Unique Position in the Market
Tapiero highlighted his fund’s focus on growth-stage companies in the crypto space, citing its $2 billion in assets under management and investments in 24 firms. With many traditional investors still cautious due to collapses like FTX and Celsius, Tapiero’s team is facing minimal competition for companies generating between $50–100 million in revenue. He noted, “We’re the only growth equity fund in the world solely focused on crypto.”
Valuation Trends and Successful Exits
10T Holdings has seen strong returns, achieving six exits this year, including high-profile events like IPOs for Circle (CRCL), Gemini (GEMI), and eToro (ETOR), as well as Coinbase's acquisition of Deribit. While public market valuations are climbing, trading at 10–20 times revenue, Tapiero pointed out that private market pricing remains subdued, creating attractive opportunities for his fund.
Perspectives on Tokenization and DeFi
Tapiero expressed skepticism about the recent tokenization narrative, describing it as overhyped despite its potential. He mentioned early movers like Securitize and Figure but noted that meaningful adoption of real-world tokenized assets (RWAs) has lagged behind expectations. In contrast, he is optimistic about decentralized finance (DeFi), which he believes has exceeded 2021 activity levels and remains a core area of interest.
Future Focus: AI, Blockchain, and the Next Infrastructure Layer
Tapiero concluded by emphasizing his focus on scaling investments in emerging infrastructure for a digitized economy, particularly where blockchain intersects with autonomous AI agents. While he admitted that many of these companies do not yet exist, he expressed confidence in their eventual emergence, stating, “I don’t even know who those companies are yet. But I’m sure that’s where this is going.”