Wikipedia co‑founder Jimmy Wales predicts Bitcoin could fall below $10,000 by 2050
Jimmy Wales, co‑founder of Wikipedia, said Bitcoin’s protocol is robust and unlikely to go to zero absent catastrophic cryptographic failure or a sustained 51% attack, but he considers Bitcoin a failure as money and a store of value. Wales predicted that Bitcoin could revert to an "enthusiast" or collectible asset by 2050, with a price in today’s dollars below $10,000 (possibly lower). He cited high fees, slow confirmations, extreme volatility and weak mainstream adoption — noting expectations that AI agents will drive crypto use are exaggerated. Wales also dismissed institutional inflows as largely speculative. The remarks, reported by PANews, drew strong pushback from Bitcoin supporters but reignited debate about Bitcoin’s long‑term monetary utility versus its role as a speculative asset. Traders should note this is market commentary, not investment advice; the commentary may weigh on sentiment and contribute to volatility in BTC trading.
Bearish
Wales’ high‑profile skepticism is likely to exert bearish pressure on BTC sentiment. His prediction that Bitcoin will revert to an "enthusiast" asset with a sub‑$10,000 real price by 2050 and his dismissal of AI or institutional adoption narratives undermine bullish long‑term narratives that support higher valuations. In the short term, the comments can trigger negative headlines, increase selling by sentiment‑sensitive traders and amplify volatility as market participants reposition around the debate over utility versus speculation. Over the medium to long term, the concrete price implication (below $10k by 2050) is distant and not immediately price‑deterministic; however, repeated high‑profile critiques can erode confidence, reduce marginal demand from neutral or conservative investors, and make BTC more prone to down‑cycles. Offsetting factors include entrenched retail and institutional holders, narrative shifts (macro, regulatory, or tech upgrades) and on‑chain demand dynamics; these could mute or reverse bearish pressure, so the overall impact is more sentiment‑driven than technical. For traders: expect increased headline‑driven volatility and possible short‑term downside pressure, but monitor on‑chain flows, leverage metrics and macro liquidity for signals of trend confirmation or rejection.