Wikipedia founder: “Bitcoin could fall below $10,000 by 2050…reduced to a hobby collectible”
Summary
- Jimmy Wales said he expects the price of Bitcoin (BTC) could fall below $10,000 by 2050.
- Wales noted that while the Bitcoin network is structurally quite robust and could persist for a long time, if it lacks meaningful usability and utility it is likely to devolve into a niche-market hobby collectible.
- He assessed Bitcoin as a complete failure both as a currency and as a store of value, reigniting debate over Bitcoin’s long-term value.
Forecast Trend Report by Period
Jimmy Wales, co-founder of Wikipedia, said he expects the price of Bitcoin (BTC) could drop below $10,000 by 2050.
According to foreign media reports on the 25th (local time), Wales said, “Bitcoin’s value won’t go to zero,” but added, “Absent a catastrophic event such as an unforeseen cryptographic flaw or a 51% attack, the network is structurally quite robust and could persist for a long time.”
However, he noted, “Even if Bitcoin’s structural stability ensures its survival, if it lacks meaningful usability and utility, it is likely to ultimately devolve into a niche-market hobby collectible.”
He went on to assess Bitcoin as “a complete failure both as a currency and as a store of value.”
The remarks come as institutional inflows have recently expanded and companies have continued to build strategic Bitcoin holdings, reigniting debate over Bitcoin’s long-term value.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
