Although in the opinion of most digital currency activists, Bitcoin is the undisputed king of digital currencies, but in the meantime, some are pessimistic about Bitcoin and believe that the end of its life is near.
With the growth of the price of Bitcoin in recent years, experts and influential people in various fields have provided different opinions about Bitcoin and digital currencies, which can be useful for people who decide to invest in this cryptocurrency.
With this in mind, in this article, we will examine opinions about Bitcoin and at the end, we will answer the question, what is the future of Bitcoin?
In this article we will cover:
- Experts’ opinion for Bitcoin in 2020
- Michael Novogratz, CEO of Galaxy Investment Company
- Bill Miller, Founder of Miller Value
- Christian Legarde, President of the European Central Bank
- Ray Dalio, Billionaire founder of Bridgewater Associates
- Warren Buffett, American investor and philanthropist
- Experts’ opinion for Bitcoin in 2021
- Jack Dorsey, Former CEO of Twitter
- Joseph Stiglitz, Economist
- Elon Musk, CEO of Tesla
- Experts’ opinion for Bitcoin in 2022
- Jamie Dimon, CEO of JP Morgan
- Thomas Fitzpatrick, founder of CitiFX Technicals
- Anthony Pompliano, investment analyst
- Expert opinion for Bitcoin until 2030
- Bill Tai, Capitalist and businessman
- The Winklevoss twins, famous Bitcoin billionaires
- Jeremy Liu, investor
- Changpeng Zhao, CEO of Binance
- How do views and opinions about Bitcoin affect its price?
- The future of Bitcoin
Experts opinion for Bitcoin in 2020
Bitcoin has made significant progress in 2020 and demand for it is higher than ever. Therefore, more people became interested in buying and investing in it.
In the meantime, many famous people also talked about Bitcoin in their media, and below are some comments about Bitcoin.
Michael Novogratz, CEO of Galaxy Investment Company
No one welcomed Bitcoin to Wall Street like Novogratz. Novogratz’s opinion tops the list of famous people on Bitcoin on this list, as he is one of the most bullish on Bitcoin.
In 2017, he correctly predicted that the price of Bitcoin would reach $10,000, and it did. In 2020, he gave more support to the king of digital currencies, telling his friend William H. Macy, the star of the series (Game of Thrones), to buy Bitcoin.
I believe that Bitcoin will become digital gold. This means that it will be the only Bitcoin that will operate legally and I predict that Bitcoin will reach $65,000.
Bill Miller, Founder of Miller Value
Bill Miller is a successful investor with a fundamental vision. He has studied the stock market and economics for many years and says that any stock can be fundamental, only if it is exchanged for less than its intrinsic value.
His view of Bitcoin is a bit skewed and contagious, and of course hopeful:
I believe that there is still a small chance that the price of Bitcoin will go to zero, but it will not happen every day, as more venture capitalists enter the Bitcoin ecosystem, more people become familiar with Bitcoin and buy it.
This means that Miller has accepted that Bitcoin has found its value among users and the future of this cryptocurrency is bright. Miller’s positive opinion as a successful investor among Bitcoin comments is a huge positive for this cryptocurrency.
Christian Legarde, President of the European Central Bank
Kristen Legarde is one of the most important and influential women in the world. She was the French economy minister for many years and is now the head of the European Central Bank. Lagarde’s approach to Bitcoin is both negative and forward-looking:
Not so long ago, some experts said that personal computers would never be used and that tablets would only be used as an expensive coffee tray. So I think it would be unwise to abandon cryptocurrencies. In my opinion, countries with an unstable system and national currency should use digital currencies a lot.
She explains:
In many ways, Digital currencies may offer existing currencies and monetary policies a way to preserve value. The best possible response for central banks is to continue effective monetary policy while remaining open to new ideas and demands.
But Legarde has not always had a 100% positive view of Bitcoin. At the end of November 2020, she published an article in which she criticized cryptocurrencies such as Bitcoin and instead talked about the advantages of the digital euro.
She mentioned in her article that Bitcoin and stablecoins like Libra can create serious risks for the global financial system.
Ray Dalio, Billionaire founder of Bridgewater Associates
Ray Dalio is one of the people who has had conflicting opinions on Bitcoin to date. For example, on November 17, 2020, he said in one of his interviews that:
Bitcoin will soon be illegal and there is not much hope for it.
But in December, he changed his stance and introduced bitcoin as an alternative to gold.
Warren Buffett, American investor and philanthropist
Warren Buffett is known for being strict on non-productive investments. Warren Buffett hasn’t even bought gold in a long time. Because he believes that everything that is useful for the production process is worth investing in.
He said in an interview with CNBC in February 2020:
Cryptocurrencies basically have no value and generate nothing.
Experts’ opinion for Bitcoin in 2021
2021 was a very important year for Bitcoin. Because the price of this digital currency exceeded 40,000 dollars for the first time and managed to attract the attention of more people and small and large investors devoted an important part of their assets to buy this cryptocurrency.
Famous people from all over the world shared different opinions about Bitcoin with people, some of which you can read below.
Jack Dorsey, Former CEO of Twitter
Jack Dorsey, the CEO of Twitter and Square, is another influential figure in the price of cryptocurrencies. Jack Dorsey is one of those interested in the world of digital currencies, especially Bitcoin. He has repeatedly verbally supported cryptocurrencies on Twitter.
Jack Dorsey clearly stated at the Bitcoin conference held in 2021:
I don’t think there’s a more important issue in my lifetime that I’ve worked on to date than Bitcoin, and nothing more beneficial to people.
By supporting digital currency investment companies, Dorsey plays a vital role in supporting Bitcoin and supporting the cryptocurrency community.
He even stated that Square will continue to support Bitcoin and is going to implement a hardware wallet for Bitcoin.
Joseph Stiglitz, Economist
Joseph Stiglitz falls into the category of people who are not very fans of Bitcoin and criticize it. He is one of the most important contemporary American economists who won the Nobel Prize in Economics in 2001. He said in one of his interviews with Bloomberg:
Bitcoin is trying to solve a problem that never existed. We have a good trading platform called Dollar. We can deal with that. Why do people want Bitcoin? For privacy! The banking system can now move towards better use of digital payments. But we don’t need bitcoins for this.
In this interview, Stiglitz argued that enforcing Bitcoin trading rules means destroying it. So it is agreed to be legislated.
Elon Musk, CEO of Tesla
Maybe there are few people who have not heard the name of Elon Musk. Because he is not only famous in trade and investment, but also an influential person in the cryptocurrency world.
He has had a lot of talks about Bitcoin, and most of them have been in support of the king of cryptocurrencies. On January 28, 2021, the CEO of Tesla added Bitcoin to his Twitter profile and caused a 10% increase in the price of this digital currency.
As the CEO of Tesla, he announced in one of his interviews that:
It will soon start accepting Bitcoin as payment for electric cars.
In mid-2021, Musk managed to create a new excitement in the digital currency market by tweeting about Bitcoin.
In this tweet, he posted a picture of a couple smiling at $69,000 worth of Bitcoin. Although Bitcoin is one of the digital currencies that is not affected by internet jokes, Musk managed to send the price of Bitcoin into an upward trend with this tweet.
Experts’ opinion for Bitcoin in 2022
Bitcoin did not grow much in early 2022. In the future, it did not perform well and on June 20, its price fell to $17,744, which caused negative feelings and extreme fear in the digital currency market.
In the following, we examine the views and opinions of people active in the field of digital currencies in 2022.
Jamie Dimon, CEO of JP Morgan
Jamie Dimon is one of the people who is pessimistic about Bitcoin and does not consider this digital currency to be reliable.
Of course, he does not have a positive opinion about other digital currency projects and sometimes introduces them as fraud projects. He stated on May 26, 2022:
The price of Bitcoin is just a bubble and will reach nearly 8 thousand dollars in the future.
Thomas Fitzpatrick, founder of CitiFX Technicals
Another person who is famous for his predictions about the digital currency market, especially Bitcoin, is Thomas Fitzpatrick. He predicted the price of Bitcoin at $318,000 by 2022.
Of course, he also considered the spread of the corona virus to be effective in the situation of Bitcoin, and in one of his interviews, he said:
Since the outbreak of the Corona virus, central banks around the world have been printing more money, and this issue can have a positive effect on the growth of the price of Bitcoin.
Anthony Pompliano, investment analyst
In one of his articles in which he talked about Bitcoin and digital currencies in 2022, Pompliano mentioned the greater acceptance of Bitcoin in different communities.
How financial institutions and traditional companies large and small have adopted Bitcoin as a tool. He mentioned the country of El Salvador, which has recognized Bitcoin. He also noted:
Wall Street giants have been forced to include Bitcoin in their strategies, even if they don’t want to participate in the pandemic. Therefore, the Bitcoin price forecast is bullish in his opinion.
Expert opinion for Bitcoin until 2030
Opinions about Bitcoin in 2023 are very different. Some believe that this digital currency will reach its highest price, and on the other hand, some have predicted 2023 as the year of caution for Bitcoin and believe that in the coming years, we can witness a significant rise of this cryptocurrency.
In view of this, we refer to some comments about Bitcoin.
Bill Tai, Capitalist and businessman
Bill Tai is one of the veteran capitalists whose opinions about the financial markets are always taken into consideration. In one of his recent interviews, he told CNBC:
Bitcoin price may drop to $12,000 before rallying again.
The Winklevoss twins, famous Bitcoin billionaires
The Winklevoss brothers, who are known as the legendary twins in the world of cryptocurrency, made billions of dollars by buying and investing in Bitcoin and were included in the list of the world’s richest people.
They first heard about Bitcoin in 2012 and became interested in it and gradually started buying Bitcoin. You may be interested to know that they raised most of their capital when BTC was only $10.
The Winklevoss twins are always optimistic about the future of Bitcoin and have said about Bitcoin:
Bitcoin has the ability to reach the price of 500,000 dollars.
Jeremy Liu, investor
Jeremy Liu is an investor at Lightspeed Venture Partners, which has made much of its name investing in social media apps like Snapchat. Of course, he is also active in the field of digital currencies, and one of Liu’s important investments in this field is the LedgerX hardware wallet.
In one of his interviews with the Business Insider news website, Liu said about Bitcoin:
By 2030, the price of Bitcoin could “literally” reach $500,000.
Changpeng Zhao, CEO of Binance
Changpeng Zhao is another person whose prediction about the price and future of Bitcoin is very important. He recently stated in an interview that after China began airing Bitcoin-related programs on national television, this would increase the price of digital currency and Bitcoin. He wrote on Twitter:
This is a big and important event. Historically, hedging like this will lead to an increase in the price of digital currencies (such as Bitcoin).
Zhao also shared a link to what appeared to be a video of a Bitcoin ATM in Hong Kong. What was clear from the image was a large blue logo with an option that read “Buy Bitcoin”.
The CEO of Binance has said in another interview about Bitcoin that:
Bitcoin price may soon reach its highest level, although no one can accurately predict the price of Bitcoin, but the range of $20,000 is relatively low for this cryptocurrency and it will definitely correct its price.
How do views and opinions about Bitcoin affect its price?
The most important reason that makes Bitcoin valuable is people’s trust in it and their investment. The price of Bitcoin started to grow when it was accepted among a percentage of people who started mining or trading with it.
Bitcoin showed the power of blockchain technology and attracted everyone’s attention.
The fact that influential people like Warren Buffett or Theresa May are talking about Bitcoin shows the importance of this digital currency in the global economy. However, these comments can affect the price of Bitcoin.
For example: On December 20, 2020, Elon Musk mentioned Bitcoin in a tweet, and after that the price of Bitcoin increased. In contrast, after he tweeted the Bitcoin hashtag with a broken heart emoji, the price of Bitcoin fell 6%.
The importance of examining opinions about Bitcoin is that the influence of celebrity words can encourage ordinary people to buy or exit Bitcoin.
Although the Bitcoin market, like other capital markets, is affected by large financial flows, however, people are the ones who make this market valid and stable. In this sense, their intellectual direction can affect the fate of Bitcoin.
The future of Bitcoin
Bitcoin, as the first cryptocurrency, has played an important role in demonstrating the importance and capabilities of blockchain and digital currencies.
This important role has caused many experts and important investors in the world to have a positive view of this digital currency. But some believe that Bitcoin is a real bubble and one day it will lose its value.
But we must know that the digital currency market is not controlled by a particular person or group. Therefore, a positive and negative opinion alone cannot affect the price, value and future of Bitcoin. After all, only users can determine the true and final fate of Bitcoin.
If you are planning to enter the digital currency market and still do not fully trust this market, it is better to start with a small capital.
In this article, we tried to have an unbiased and comprehensive look at Bitcoin cryptocurrency. What do you think about the future of Bitcoin? Do you think this cryptocurrency will continue its reign in the future?