Wikipedia Founder: Bitcoin to Hit $10K in 2050
Analysis
Price Impact
LowJimmy wales' long-term prediction of bitcoin's price in 2050, while notable due to his wikipedia founder status, is too far in the future to have a significant immediate impact on current trading decisions. the crypto market is driven by shorter-term factors and sentiment.
Trustworthiness
MedJimmy wales is a respected figure, but his expertise is not directly in cryptocurrency or financial markets. his prediction is speculative and based on his personal analysis of bitcoin's utility, rather than on deep market data or technical analysis.
Price Direction
NeutralThe prediction is for a price below $10,000 by 2050, which is bearish for the long term. however, it also states bitcoin will not 'go to zero' and will survive, suggesting a baseline value. the immediate price direction is not clearly indicated by this forecast.
Time Effect
LongThe prediction explicitly targets the year 2050, making it a very long-term outlook. its relevance for current trading is minimal.
Original Article:
Article Content:
Cover image via U.Today Add as a preferred source on Google News Wikipedia co-founder Jimmy Wales has come up a grim long-term forecast for Bitcoin, predicting that while the cryptocurrency will not "go to zero," it is destined to fade into obscurity with a price tag of under $10,000 by 2050. Advertisement Wales argued that Bitcoin’s structural robustness ensures its survival, but its lack of utility will ultimately relegate it to the status of a niche hobbyist collectible. "People who think that Bitcoin is going to zero are likely mistaken," Wales wrote. "The design is robust enough that it will continue to exist in perpetuity, barring some currently unforeseen breakdown in cryptography or a surprise 51% attack." HOT Stories Morning Crypto Report: Cardano (ADA) Listed on Bitstamp Singapore, Peter Brandt Skeptical of $150K Bitcoin Target, Dogecoin Price Confirms 'Death Cross' on Weekly DOGE Chart Ripple's CTO Emeritus Shuts Down 'Nonsensical' Centralization Accusations However, Wales believes this survival will be a hollow victory. He characterized the asset as a "complete failure" as both a currency and a store of value, predicting that it will fail to become the "dominant money of the future." Advertisement "What it can do, though, is decline to a price consistent with hobbyist tinkering," Wales noted. "So I'd suggest a 2050 price target of under $10,000 in today's dollars. Possibly much lower." No escape hatch Wales also pushed back against the popular narrative that Bitcoin will serve as a critical "escape hatch" for citizens living under increasingly authoritarian regimes. When a user suggested that restrictions on digital rights would drive adoption, Wales remained skeptical. Advertisement "Hard to use, volatile, not accepted as currency anywhere," Wales countered. "It's fine for hobbyists/enthusiasts but I think gold/silver/jewelry/real estate/fine art/etc will remain dominant as safe haven store of value." He was equally dismissive of the idea that institutional products like ETFs and futures would prop up the price indefinitely. Wales described traditional finance (TradFi) intermediaries as "famously ruthless and not ideological," suggesting that if public interest wanes, they will happily let the products trade lower and lower. #Bitcoin News #Wikipedia