The founder of 'Wikipedia' has put a fat cross on Bitcoin (until 2050)
A fall below current prices is certainly possible. But, as they say, where that bottom is and what it will be — no one knows. Neither the billionaires on Wall Street nor even the 'all-knowing' creator of Wikipedia.
Jimmy Wales, the very guy who created the internet encyclopedia, has decided that it is now his turn to scare crypto enthusiasts. And although he honestly admits: the Bitcoin network is as reliable as an old 'Mercedes', and even a hard fork is not scary for it, he does not believe in the bright future of the first cryptocurrency.
In his opinion, by 2050 bitcoin will drop to a ridiculous $10,000 (in today's money). It is said that the tool has remained purely for speculators and will ultimately turn into a sandbox for geeks and technical experiments. No global currency for you, no savings — a complete failure as a means of payment.
But while Wails buries bitcoin, serious guys from Wall Street are trying on their formal jackets.
While the co-founder of Wikipedia looks into a crystal ball, bankers from Morgan Stanley have already rolled up their sleeves. At a conference in Las Vegas, their top manager Amy Oldenburg stated: we are building our services around bitcoin. It’s not enough for us just to store it for clients — we also want to issue crypto loans and generate returns. Serious people are preparing seriously.
And this is not a singular case. Citi Bank, which has always been known for its conservatism, has also decided not to lag behind. They promise to launch infrastructure by the end of the year to integrate bitcoin into the traditional banking system. That is, to make it a full-fledged 'asset' rather than a suspicious toy.
And the rate of cryptocurrency adoption, according to analysts at River, is currently simply record-breaking.
Here’s the picture: one smart person predicts poverty and oblivion for decades to come, while other smart people are currently investing billions in infrastructure. Who will be right — we will find out by 2050. If, of course, we live long enough and don’t lose access to wallets.
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