Bitcoin was created in early 2009. Since then, we’ve seen its price increase from Bitcoins to the cent (circa March 2010), all the way up to $8,700+. One of the stories that illustrate this growth best is that of two pizzas, which were bought for 10,000 Bitcoins, on May 22, 2010, by a Florida developer by the name of Laszlo Hanyecz. Those 10,000 Bitcoins (at $8,700 per bitcoin) would be worth over 87 million US dollars today, pitted against the $40 or so they were worth then.
Is there any limit to this growth, and if so, where? While nobody knows for sure, there are plenty of anti-Bitcoiners who see the market as a bubble, ready to pop and have Bitcoin’s price fizzle back to mere cents, and plenty of pro-Bitcoiners, or Bitcoin evangelists, who see little hinderance in Bitcoin growing up to 200 times its current price. Here are seven of those Bitcoin evangelists, and what they think Bitcoin will go on to be worth.
Wences Casares – $1,000,000 (by 2027)
Wences Casares is an Argentinian technology entrepreneur living in the US. He is the founder and CEO of Xapo, a Bitcoin wallet startup, and a board member at PayPal, among various other roles. Casares says he first found interest in Bitcoin because of high financial volatility in Argentina’s native currency, the Peso. The tech giant bought his first Bitcoins in 2011.
Casares believes that Bitcoin will hit $1 million sometime before 2027, speaking at the Consensus 2017 conference in New York. Even better, he believes that Bitcoin could hit one million dollars in as few as 5 years, saying on May 23, 2017, that the milestone will be reached “in 5-10 years”.
Chamath Palihapitiya – $1,000,000 (by 2037)
Chamath Palihapitiya, the founder of Social Capital and co-owner of the Golden State Warriors, started investing in Bitcoin in 2012. In 2013, he mentioned that he owns Bitcoin in his hedge fund, general fund, private account, and at one point he owned 5% of all Bitcoin in circulation.
Palihapitiya has predicted Bitcoin price will reach $100,000 in the next 3-4 years and in the next 20 years, it will be worth $1 million. He explained his prediction as based on the evaluation of Bitcoin as a store of value just like gold.
He said, “This thing has the potential to be comparable to the value of gold…This is a fantastic hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly”
John Pfeffer – $700,000 (no date)
John Pfeffer, a partner at his London-based family office Pfeffer Capital, is not only betting on Bitcoin, but giving it a bold price target of $700,000—about 75 times the current Bitcoin price of nearly $9,500. Pfeffer said that Bitcoin is the first viable candidate to replace gold the world has ever seen.
His math works like this: First, he assumes that Bitcoin can logically replace all of the gold bullion currently held by private investors—in other words, the gold bars that people keep in a safe-deposit box or bury in their backyard, simply as a way to park their money in something more dependable than paper. “Bitcoin is vastly easier to store and secure,” Pfeffer said.
As per Pfeffer, the current value of all privately held gold bullion is about $1.6 trillion. Assuming there will be 18 million Bitcoins in circulation by the time the cryptocurrency fully replaces gold bullion, the implied value of a Bitcoin would then be $90,000. This is Pfeffer’s most conservative scenario, which he gives 8% odds of coming to fruition. Pfeffer has even higher hopes for Bitcoin — that it could eventually be to central banks what traditional foreign reserve currencies are today.
John McAfee – $500,000 (by 2020)
John McAfee is the founder of McAfee Associates which launched first commercial antivirus software in the late 1980s. He recently founded MGT Capital, a company that mines various cryptocurrencies in and outside the United States. John got involved with Bitcoin because according to him it will eventually become ‘the standard for the world.’
McAfee recently made waves in the cryptocurrency world after claiming that each unit of Bitcoin would be worth half a million dollars by 2020. He did not stop there. He went on to predict that Bitcoin could even reach as much as $2.6 million in the same time frame. There is no way of knowing whether McAfee did this to get attention or if he actually means it. Only time will tell.
Jeremy Liew – $500,000 (by 2030)
Jeremy Liew is a partner at Lightspeed Venture Partners, famed as the first investor in the social media app Snapchat. Liew’s other investments include the multimedia company Beme, the listing service VarageSale, and the hardware wallet LedgerX. His net worth is estimated at north of $2 billion.
In an exchange with Business Insider, Liew said that the Bitcoin price can “realistically” reach $500,000 by 2030. Liew’s prediction was backed by Peter Smith, the CEO, and co-founder of Blockchain — the world’s most popular Bitcoin wallet. The estimate was made on May 4, 2017.
Mark Yusko – $400,000 (no date)
Mark Yusko, the billionaire investor and founder of Morgan Creek Capital defended his prediction that Bitcoin will be worth $400,000 in the long term. Yusko’s now-famous prediction made headlines because of its grandiose scale.
“It’s just math. It is gold equivalent…there are about 20 mln Bitcoin available today. Gold today is about $8 tln. That gives you $400,000. And that doesn’t include use cases that relate to currency.” Yusko said.
He also pointed out that the asset is striking fear into the hearts of bankers precisely because Bitcoin eliminates the need for banks. When transactions are verified on a Blockchain, banks become obsolete.
Roger Ver – $250,000 (no date)
Roger Ver is an early investor in Bitcoin and its related startups. Born in the US and now with citizenship in Saint Kitts and Nevis, Ver started his business career with a computer parts business, MemoryDealers.com. By early 2011, Ver had begun investing in Bitcoin, now with a portfolio including startups like Bitinstant, Ripple, Blockchain, Bitpay, and Kraken. He is sometimes nicknamed the “Bitcoin Jesus”.
In an interview Jeff Berwick, for The Dollar Vigilante blog, Roger Ver said in October 2015 that Bitcoin “could very easily be worth $2,500, or $25,000 per Bitcoin, or even $250,000 per Bitcoin”. Ver’s estimate is based on the principles of supply and demand, which he believes creates great potential for Bitcoin as a store of value.
Kay Van-Petersen – $100,000 (by 2027)
Kay Van-Petersen is an analyst at Saxo Bank, a Danish investment bank which specializes in online trading and investment. Based out of Singapore and with an MSc in Applied Economics & Finance from Copenhagen Business School, Van-Petersen is an active Twitter user with no fear of speculating on tough topics like the prices of cryptocurrencies.
Van-Petersen believes that Bitcoin will rise to $100,000 per unit by 2027, according to a feature by CNBC news published on May 31, 2017. As the man who successfully predicted Bitcoin’s flow up to $2,000 by 2017, Kay Van-Petersen’s most recent estimate, perhaps a little optimistic, suggests that Bitcoin would then account for 10% of the volume in the foreign exchange market.
Tom Lee – $91,000 (by 2020)
Tom Lee, co-founder of the market strategy firm Fundstrat Global Advisors and a well-known bitcoin bull, sees bitcoin’s price “easily double” in 2018. Lee initially set his bitcoin price target for $11,500 for mid-2018, and then increased it to $20,000 as the cryptocurrency’s intrinsic value had increased over the last few months due to the growth of new bitcoin wallets, according to him.
Tom Lee recently went a bit further stating that Bitcoin’s price will reach $91,000 by March 2020, basing his prediction on a chart that shows Bitcoin’s (BTC) performances after past market dips. Lee and Fundstrat used an average of the percentage gained in price after each dip to arrive at the 2020 figure.
Tai Lopez – $60,000 (mid-term)
Tai Lopez, a renowned investor and analyst, believes that if a small portion (1%) of the assets of millionaires globally is invested into Bitcoin in the upcoming months, the price of Bitcoin would justifiably be around $60,000.
Given that the adoption of Bitcoin as a store of value and a medium of exchange within the global finance market is increasing exponentially, $60,000 remains as a viable mid-term price target.
Ronnie Moas – $50,000 (2020)
Ronnie Moas is the founder and director of research at Standpoint Research, an equity research firm accounting for both traditional investments and new-time ones. Moas is an avid Twitter user and Wall Street analyst who has been featured on dozens of TV and radio interviews and holds an MBA in finance.
Moas projects that Bitcoin will reach a price of $50,000 by late 2020. He also believes that the market cap of all cryptocurrencies will burst up to a whopping $2 trillion (from the current $150 billion) within the next 10 years. Moas has also compared the wealth proposition of cryptocurrencies to that of the dot-com boom.
Thomas Glucksmann – $50,000 (2018)
Thomas Glucksmann, head of APAC business at Gatecoin, sees regulation, the introduction of institutional capital, and technological advances like the Lightning Network as the main factors in rising cryptocurrency prices.
“There is no reason why we couldn’t see bitcoin pushing $50,000 by December.” he said. Glucksmann also wrote that a possible element in market growth going forward could be the release of a cryptocurrency-based ETF, similar to when BTC’s price shot up to $16,800 in Dec. 2017 after the CBOE’s futures launch.
Ran Neuner – $50,000 (end of 2018)
Ran Neuner, the host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia, calims that Bitcoin will end 2018 at the price point of $50,000. Interestingly, The CNBC channel has been increasingly involved in cryptocurrency reporting over the past few months. On Jan. 8, the cable network aired a step-by-step tutorial on how to buy Ripple using the Poloniex exchange as a platform for the purchase.
Masterluc – $40,000 to $110,000 (by 2019)
Masterluc is an anonymous Bitcoin trader, known for his impressive predictions in the price of Bitcoin. Most notable was his prediction of the end of the 2013 Bitcoin bubble, which was then followed by a bearish market for multiple years.
Masterluc sees Bitcoin reaching a price of between 40,000 and 110,000 US dollars by the end of this bull run, sharing his thoughts publicly on the TradingView platform. In his May 26th, 2017 post, the legendary trader said he expects the price to be reached sometime before 2019.
Mike Novogratz – $40,000 (by end of 2018)
After correctly predicting the $10,000 milestone, hedge fund manager Michael Novogratz thinks that Bitcoin price can go four times by the end of 2018 and cross $40,000. According to him, high demand from Asia and a limited supply of the cryptocurrency has lead to cryptocurrency’s exuberant growth.
Novogratz is starting a $500 million cryptocurrency hedge fund to invest in cryptocurrencies, initial coin offerings, and related companies.
Trace Mayer – $27,395 (by Feb 2018)
Trace Mayer, who according to his website, is an entrepreneur, investor, journalist, monetary scientist and ardent defender, has predicted Bitcoin price to hit $27,000 by February 2018. Mayer has been involved with Bitcoin since its early days, initially investing in the cryptocurrency when it was worth $0.25.The host of The Bitcoin Knowledge Podcast is basing his prediction on a 200-day moving average. He’s assuming that by taking the 200-day moving average, in four months it will reach $5,767. At which point, he believes that each bitcoin will be worth over $27,000, increasing its relative price by 4.75 times.
Winklevoss Twins – $5 trillion market cap (by 2028 – 2038)
Winklevoss twins – the famous Bitcoin billionaires has said Bitcoin has the potential to of thirty to forty times its current value. That would put the Winklevoss’ estimation of Bitcoin’s future market cap at over $5 trillion. This number comes from a comparison to the $7 trillion global gold market, which the brothers claim Bitcoin will disrupt.
Cameron Winklevoss said, “We’ve always felt that Bitcoin, given its properties, is gold 2.0 — it disrupts gold. Gold is scarce, Bitcoin is actually fixed. Bitcoin is way more portable and way more divisible. At a $300 bln market cap, it’s certainly seen a lot of price appreciation, but gold is at $6 tln and if Bitcoin disrupting gold is true and it plays out … then you can see 10 to 20 times appreciation because there is a significant delta still.”
Bitcoin Predictions that have proven correct
As of November 28, 2017, bitcoin has crossed the $10,000 dollars per bitcoin making Tim Draper and Mike Novogratz predictions correct.
Tim Draper – $10,000 (by 2018)
Tim Draper, a billionaire venture capitalist, envisions Bitcoin to hit a $10,000 USD per bitcoin by 2018. Draper scored big as an early backer of Skype and Baidu. He is also an early supporter of Bitcoin and its underlying technology blockchain.
In July 2014, Draper purchased nearly 30,000 bitcoins (worth around $19 million at the time) which had been seized by the US Marshals service from the Silk Road (a marketplace website).
Mike Novogratz – $10,000 (by April 2018)
Mike Novogratz is a former hedge fund manager who has been investing in Bitcoin and Blockchain technology for a long time. Due to heavy investor interest in the cryptocurrency, Mike believes Bitcoin price could rise up to $10,000 by April 2018.
Novogratz is supposedly going all in by starting a $500 million fund to invest in cryptocurrencies, initial coin offerings, and related companies. He has already put his own $150 million and plans to raise the rest from outside sources, mainly from wealthy individuals and families and fellow hedge fund managers.
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