Wikipedia co-founder Jimmy Wales has offered a bleak long-term outlook for Bitcoin, suggesting that although the leading cryptocurrency is unlikely to collapse entirely, it may gradually lose relevance. He predicted that by 2050, Bitcoin could gravitate back below $10,000 as it drifts into relative obscurity.
Why Bitcoin Risks Falling Toward $10,000, According to Wikipedia’s Jimmy Wales
In a Feb. 25 post on X, Wales suggested that Bitcoin’s underlying design gives it staying power, yet he claims that its limited practical use will ultimately confine it to a niche role, more like a hobbyist’s collectible than a widely adopted asset.
“People who think that Bitcoin is going to zero are likely mistaken,” Wales posited. “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 (even then, a fork would carry on I would imagine).”
Despite expecting Bitcoin to endure, Wales views that longevity as largely meaningless. He described the cryptocurrency as having fallen short as both a medium of exchange and a reliable store of value, adding that he does not see it evolving into the “dominant money of the future.”
“What it can do, though, is decline to a price consistent with hobbyist tinkering,” Wales remarked. “So I’d suggest a 2050 price target of under $10,000 in today’s dollars. Possibly much lower.”
Wales’ comments didn’t resonate well with the wider Bitcoin and crypto community, who pushed back at the Wikipedia co-founder. One X user pointed out that Bitcoin currently benefits from substantial institutional backing. With exchange-traded funds, futures, and indices now in place, traditional finance players are generating substantial revenues by catering to this soaring demand.
However, Wales portrayed traditional finance intermediaries as driven purely by profit rather than conviction, arguing that if investor enthusiasm fades, they would have little hesitation in allowing these products to steadily wilt.
The Wikipedia executive also challenged the widely held belief that Bitcoin could function as a crucial financial lifeline for people under authoritarian rule.
Responding to claims that tighter controls on digital freedoms would boost adoption, he expressed doubt. Wales pointed to Bitcoin’s usability hurdles, price volatility, and limited acceptance, arguing that it remains better suited to enthusiasts. In his view, traditional safe-haven assets such as precious metals, property, and art are likely to retain their dominance.
Source: https://zycrypto.com/bitcoin-crash-warning-why-wikipedia-co-founder-projects-btc-price-below-10000-by-2050/
