By cryptoadmin After experiencing declines in recent weeks, Bitcoin (BTC) has recovered in the last 24 hours and is once again approaching the $70,000 mark.
While Bitcoin’s recovery has provided some relief to the market, shocking statements have come from the founder of Wikipedia.
Wikipedia founder Jimmy Wales, using the X account, has made harsh criticisms of Bitcoin, claiming that it will fall below $10,000 by 2050 and become a collector’s item.
Jimmy Wales predicted that Bitcoin’s value wouldn’t drop to zero, but would fall below $10,000 by 2050.
“Bitcoin is a complete failure as a currency, a store of value, etc., therefore it will not be the dominant currency of the future.”
“That’s why I predict it will be below $10,000 in today’s dollar terms by 2050. It could probably be much lower.”
Wales, acknowledging that Bitcoin will never disappear unless there is an unpredictable flaw or a 51% attack, argued that its permanence does not mean it will increase in value or rise in value.
Wales, who considers Bitcoin a failure both as a currency and a store of value, stated that it cannot be the money of the future.
Wales stated that the lack of practical utility would ultimately reduce Bitcoin to a niche hobby asset, describing it as volatile, difficult to use, and not widely accepted as a means of payment.
*This is not investment advice.