Bitcoin is going places. Whether that’s the moon or the gutter is up for debate. Here at Blocks Decoded we’re big believers in Bitcoin, but what about the industry? Who thinks Bitcoin will flop, and who thinks it will flourish? What price do those in the industry think Bitcoin can reach? Nobody could have predicted Bitcoin reaching $1, $10, or even $100 back when it first launched, yet here we are at $10,000, are we on the precipice of an astronomical price? Here’s what the experts think.
1. John McAfee: $500,000 and $1,000,000
Founder of the McAfee security company (now owned by Intel), John McAfee is a massive Bitcoin bull. In July 2017, John Tweeted his prediction of $500,000 per Bitcoin within three years. He said “Bitcoub’s [sic] low of $1,800+ yesterday simply could not be maintained. In the long term Bitcoin moves above $500,000 within three years. Bets?” He then went on to say “if not, I will eat my dick on national television.” He must have felt quite pleased with himself during the gold rush towards the end of 2017.
Bitcoub's low of $1,800+ yesterday simply could not be maintained. In the long term Bitcoin moves above $500,000 within three years. Bets?
— John McAfee (@officialmcafee) July 17, 2017
By November 2017, John went on to Tweet “When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin [sic] at $1 million by the end of 2020. I will still eat my dick if wrong.”
John’s Tweets were Retweeted over 10,000 times, generating over 6,500 likes and more than 1,000 comments. After crypto winter, and considering there is just over one year left for this prediction to come true, John must be extremely confident or very worried right now.
2. Cameron Winklevoss: $320,000
Cameron Winklevoss is one-half of the Winklevoss twins who successfully sued Facebook for theft of their idea and then went on to found the Gemini exchange.
It’s no secret that Cameron Winklevoss is a big fan of Bitcoin. Known as the one of the first Bitcoin Billionaires (his brother Tyler is the other), Cameron believes Bitcoin could be worth 40 times today’s price. Bitcoin was trading at $8,000 at the time of this prediction. He didn’t specify when this price may get reached, but he did discuss a 10 to 20-year view.
You can watch this prediction (and more interesting Bitcoin discussion) during Cameron’s CNBC interview.
3. Max Keiser: $100,000
The move to $28,000 will be crisis-driven and then no #Bitcoin will be available under $100,000 as price gaps – and even at that price, not much BTC available.
— Max Keiser, tweet poet. (@maxkeiser) October 2, 2018
During the depths of crypto winter, max Keiser predicted that Bitcoin will reach $100,000, and it will jump that high once the price reaches $28,000. Max’s prediction only gained 727 likes and 184 retweets, which sounds impressive until you see he has over 228,000 followers. It’s likely that the sentiment around Bitcoin was low during this troubled time.
Max is a writer for The Huffington Post, an American broadcaster, and a reporter for the Russian TV network RT. Despite links with Russia, Max labeled JPMorgan Chase as “the biggest financial terrorist on Wall Street”, so that’s a big plus in our books.
4. Bill Gates: $0
Founder of Microsoft, multi-billionaire, and philanthropist Bill Gates is well known in the tech community. Bill is not a fan of Bitcoin.
Gates famously received one Bitcoin as a birthday present, but he was quick to dismiss the technology, and sold it soon afterwards. Gates said that he would short Bitcoin if he could, and in an interview with CNBC said “As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment“.
In May 2018 Tyler Winklevoss called on Gates to “put your money where your mouth is” with Bitcoin. By this he means Gates should short Bitcoin, and he can do so with their Gemini Futures contracts.
5. Warren Buffet: A Bad Ending
Warren Buffet, CEO of the multinational investment firm Berkshire Hathaway has famously hated Bitcoin. He once called Bitcoin “rat poison squared”, but his prediction is a little less specific than the others on this list. He said “In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending”.
Buffet went on to say “If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it, but I would never short a dime’s worth.” Does he know there are over two thousand cryptocurrencies now?
The story doesn’t end there. Tron founder Justin Sun recently paid $4.57 million for a lunch with Warren. Justin hopes to discuss all things cryptocurrencies with Warren, but has had to reschedule due to a health problem. Only time will tell who was right.
What’s Your Bitcoin Price Prediction?
These predictions from some of the leaders in cryptocurrency, finance, security, and tech show just how much speculation occurs within the cryptocurrency space. From John McAfee, Cameron Winklevoss, and Max Keiser’s crazy prices, to the doubtful concerns by Bill Gates and Warren Buffet. The Bulls and Bears are plentiful, especially in these turbulent times for Bitcoin.
That said, Bitcoin is declared dead all the time, yet still it continues to exceed expectations. While past performance does not always indicate future performance, the first ten years of Bitcoin Have been a surprising rollercoaster, what will the next ten years look like?
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