Looking Into The Future
It certainly has been a wild ride so far with the price of Bitcoin since it appeared in 2009. After hitting its highest price at $19,783 in the fall of 2017, it fell back to $3.300 by the end of 2018. It has slowly crawled its way back to around $10,000 here in mid-August 2020. So what do the movers and shakers predict the price of Bitcoin will be in 2030? Will Bitcoin survive until then?
- If you have been in the cryptocurrency world for any amount of time, chances are you have heard of the Winklevoss twins. Combined, they have accumulated more than $1 billion net wealth through Bitcoin. They predict a growth of 300-400% over the next 10-20 years making Bitcoin worth over $400,000 by 2030-2040.
- The founder and CEO of Bitcoin wallet Xapo, Wence Casares predicts the price of Bitcoin will hit $1 million sometime before 2027.
- Online trading and investment analyst Kay Van-Peterson from Saxo Bank believes Bitcoin will rise to $100,00 by 2027. Peterson successfully predicted Bitcoin’s price would hit $2,000 by 2017.
- Famed as the first investor in the social media app Snapchat and partner at Lightspeed Venture Partners, Jeremy Liew stated that “Bitcoin price can realistically reach $500,000 by 2030.”
Author and wealth manager Andy Edstrom has predicted that Bitcoin would reach an $8 trillion market cap by 2030 putting the price of Bitcoin at around $400,000.- “Bitcoin becomes the dominant non-sovereign store of value. The new gold or new reserve currency.” This is a statement from John Pfeffer, partner at Pfeffer Capital. Pfeffer states he always backs up his predictions with mathematics and says Bitcoin could reach $700,000 by 2030.
- Founder of Social Capital and Co-Owner of the Golden State Warriors, Chamath Palihapitiya started his investments with Bitcoin in 2012. At one time he owned 5% of all Bitcoins in circulation. He has predicted that Bitcoin’s price will reach $100,000 in the next few years and added that it will reach $1 million by 2037
- Mark Yusko is the CEO and CIO at Morgan Creek Capital Management. He believes Bitcoin will reach gold equivalence and be worth $500,000 by 2030.
- Mati Greenspan is a financial market analyst who polled his Twitter followers and stated that “nearly half of the respondents believe that Bitcoin will be more than $1 million by the end of the decade”.
- Of course, there is John McAfee who once predicted that Bitcoin would reach $500,000 by 2020 or he would eat his own male member on tv was wrong. His track record shows that his predictions need to be taken with a grain of salt as he continues to question his own price predictions.
Unless you own an actual magical crystal ball, predictions are just guesses based on the information on hand at the time of said prediction. But one thing for sure is that Bitcoin and Crypto technology will define our life and wealth in the future as we continue to earn, spend, save, and trade as new easy-to-use applications are implemented.