Wikipedia co-founder Jimmy Wales has predicted that Bitcoin (BTC) could fall below $10,000 in today's dollars by 2050, a decline of more than 80% from its current price near $67,736, calling the leading cryptocurrency a "complete failure" as both a currency and a store of value.
What Happened: Wales' Bearish Forecast
Wales said Bitcoin's underlying design is robust enough to keep the network running indefinitely but argued its real-world utility remains severely limited.
"People who think that Bitcoin is going to zero are likely mistaken," Wales said, adding that a fork could sustain the chain even in the event of a 51% attack or cryptographic breakdown.
He described Bitcoin as "speculative at best" and dismissed institutional accumulation and ETFs as guarantees of price stability. "There's very little reason to think increased accumulation is likely to happen… enthusiasts had best be prepared for the price to decline to hobbyist levels," he wrote.
Wales also pushed back on the idea that authoritarian crises would drive demand, saying gold, silver, real estate and fine art would remain the preferred safe-haven assets.
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Why It Matters: Growing Skepticism
Wales' remarks come as several analysts and market participants voice similar doubts. Technical analyst Coin Signals flagged Bitcoin's failure to hold above the 200-week EMA, noting a downside target in the $58,000–$55,000 range.
SwanDesk's Jacob Kinge went further, writing on Feb. 24 that "the Bitcoin bubble is over" and urging holders to sell.
Not everyone agrees. CFA Rajat Soni cautioned against reading too much into short-term price swings, calling bearish observers "tourists" who confuse volatility with failure.
Still, Wales' long-term view that Bitcoin may persist as a network but never achieve mainstream adoption as money or a store of value captures a tension that has defined the asset for years.
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