Will Bitcoin Price Fall Below $10,000? Wikipedia Founder Under Fire After Slamming BTC as ‘Failure’

Core Viewpoint - Wikipedia co-founder Jimmy Wales has labeled Bitcoin as "a complete failure as a currency" and predicts its price could drop to under $10,000 by 2050 in today's dollars [1][4]. Group 1: Bitcoin's Future Price Predictions - Wales suggests that Bitcoin could decline to a price that reflects "hobbyist tinkering" and will not become the dominant form of money in the future [2]. - He emphasizes a price target of "under $10,000 in today's dollars" for Bitcoin by 2050, potentially much lower [2][4]. Group 2: Institutional Interest and Market Dynamics - Despite Wales' negative outlook, U.S.-listed Bitcoin ETFs have recently seen significant inflows, with $297.4 million into BlackRock's iShares Bitcoin Trust (IBIT) on February 25, helping Bitcoin's price recover above $68,000 [5]. - Market analysts describe the recent inflows as "cautious accumulation" rather than exuberant buying, indicating a more tempered investor sentiment [5]. Group 3: Critique of Bitcoin's Viability - Wales argues that Bitcoin is "not a successful currency at all" and is merely a "speculative asset at best," noting that AI bots are not adopting crypto in significant numbers [2]. - He acknowledges that while Bitcoin's design is robust, he does not support the notion that it will collapse entirely, stating that those predicting Bitcoin will go to zero are "likely mistaken" [6].