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Jimmy Wales believes that the price of Bitcoin may not reach zero.
One of the founders of Wikipedia described Bitcoin as completely failed as a currency.
The price of Bitcoin is currently down by 1.02% in the last 24 hours.
Jimmy Wales talks about the price of Bitcoin
The co-founder of Wikipedia stated that anyone who thinks the price of Bitcoin will drop to zero is mistaken, adding that its design is robust enough to ensure its continuity forever. Jimmy emphasized that an unexpected failure in the encryption or a 51% attack would have to occur for the price of Bitcoin to reach zero.
However, he pointed out that the price of Bitcoin could drop to a level commensurate with amateur experiences. In the same post on X, Wells described Bitcoin as a complete failure as a currency and a store of value. The co-founder of Wikipedia predicted that the price of Bitcoin would reach a specific target in 2050, which is less than $10,000 at its current value.
Wikipedia founder clarifies his position
Of course, his post received many comments from the cryptocurrency community. One member described it as a successful currency due to its limited supply, adding that AI programs have already started adopting it. Jamie responded by describing Bitcoin as a speculative asset at best, emphasizing that AI programs do not actually adopt it.
Another member said that there is significant institutional support represented in exchange-traded funds, indices, and other products. Wells responded, describing this institutional support as tough, saying that its price could drop further if nothing new happens and people lose interest in it.
Bitcoin price and its forecasts
Bitcoin is currently trading at $67,728.35, down 1.02% over the past 24 hours and 23.93% over the month. However, the trading price indicates a significant improvement, as the price of the digital currency recently dropped to $62,910.32. It briefly reached $69,371.61 and is now seeking to regain its position near the $70,000 mark.
Forecasts for the price of Bitcoin over the next three months indicate a slight increase of 5.28% to about $71,021, amid high volatility of 9.08%. The 14-day Relative Strength Index (RSI) indicates a neutral position at 42.32 points. Estimates from Calchi Traders suggest that the price of Bitcoin may not reach $100,000 in 2026, but could reach $94,000 this year.$UB
