Another Million-Dollar Bitcoin Prediction from Ex-Hedge Investor Altucher

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Another cryptocurrency specialist, this time former hedge fund manager, author and American entrepreneur, James Altucher, has thrown up another 1 million dollar Bitcoin prediction.

Speaking to precious metal analyst on Kitco News, Altucher, who has authored more than 20 books, had in fact said Bitcoin would be USD 1,000,000 before but admitted that he may have to wait a bit longer than he had previously anticipated. He had previously said to CNBC:

“I’ll say USD 1 million by 2020, as well, easily. There’s 15 million millionaires around the world. All their financial advisors are going to say, ‘Hey, buy a bitcoin. You need some exposure’.”

The self-help guru explained that this valuation does depend on an outcome where Bitcoin replaces fiat money in the future and insisted that Bitcoin’s fundamental and technical strengths would ensure that it is recognized as a superior tool for digital money. He estimated that crypto’s USD 200 billion valuations compare favorably to the US dollar’s total valuation of USD 200 trillion:

“…that is 100,000 percent from here. So that could give bitcoin a price of USD 8 million dollars, so USD 1 million dollars is even a discount to where bitcoin could eventually go.”

Bitcoin maximalists believe that there will be a day when Bitcoin will eclipse traditional money and will be valued at a price far higher than even its current all-time high at USD 20,000. Other prominent crypto influencers include self-exiled US presidential candidate John McAfee, who in fact predicted USD 500,000 but doubled that estimation to USD 1 million, famously promising to consume his own manhood on national television if that pricing failed to happen.

 

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