Podcaster, inventor and entrepreneur James Altucher is the face of the ‘bitcoin genius’ ads stalking anyone who has ever expressed any online interest in Bitcoin or altcoins.
The infamous serial entrepreneur, who has his share of skeptics due to bullish remarks about Bitcoin, turns 50 today.
Here are his predictions about the future of cryptocurrencies, reported by CNBC.
1. Argentina or Venezuela will crack. The looming economic despair will lead to the end of the country’s fiat currency, sparking full support of Bitcoin. At that moment, Bitcoin will rise in value to $50,000.
2. Banks will hop on the Bitcoin bandwagon. Since Altucher’s prediction, the futures market is underway and Goldman Sachs has announced the launch of its upcoming cryptocurrency trading desk.
3. Nearly all the altcoins will vanish in dotcom-bust style within the next six months. The survivors will become titans in the industry.
4. Smaller cryptocurrencies will be used by the US government for “gray-area transactions” with other countries.
5. Despite China’s condemnation of cryptocurrency trading, it will promote a favorite crypto – and it won’t be Bitcoin. China’s embrace will be beneficial for all the surviving coins, lending legitimacy to the fintech revolution.
Read the full list of predictions.
Altucher has also announced that Bitcoin will reach $1 million by 2020. He joins other high-flying prognosticators.