Winklevoss Case for $500K Bitcoin

[Sacha]

Tyler Winklevoss wrote very interesting article called 'The Case for $500K Bitcoin' explaining why he thinks Bitcoin can go this high.
I liked his comparison and boom from no telephones to smartphones, and all the problems with US dollar, oil and gold.
With recent news about higher inflation, this 500k scenario is surely not some fantasy but more real then ever.
https://winklevosscapital.com/the-case-for-500k-bitcoin/

 

[Ayaan]

so far my guess about the next peak of the bitcoin price bubble has been $400k and that was based on the previous performances, the way adoption has been growing, the institutional investment growth and the positive change in many countries' stance towards bitcoin.
but if i were to factor in the devaluation of US dollar as outlined by this article then $400k seems like a small rise and we may even end up seeing a much higher value even higher than $500k that the article suggests. specially if a global bitcoin panic buy starts. keep in mind that 6 digits price for something scarce that keeps growing will change the minds of millions of individuals who have been ignoring bitcoin all this time despite its growth so far.
dare i mention $1 million for this cycle?

nonetheless i am sure this cycle's major bull run will be the most interesting so far.

 

[Mathew]

I have decide to start taking profit from 60k bitcoin to whatever height it wants to climb , will even take my money when dumping. I consider the ability to make $1000-10000 daily as it pumps to decide when to get into stable coin. Most of this prediction are distraction to trap some people in the bull run. If you wait for 400k in this market you might have to struggle to sell at 40k. Greediness in this market needs to be properly managed before one become victim

 

[Mauricio]

It should be clear by now that the USdollar is just paper. People are getting that the game is rigged since its inception: a monetary system which is inflated at whim will be beaten by a monetary system based on game theory, economic incentives and controlled supply.
A case for $500K USD per BTC is possible not just because Bitcoin is far superior but probably due to the fact that the USD will depreciate over time.

 

[Kellan]

I think $500,000 & even upwards of that is very possible but we may have to wait for the next bull cycle for those heights. $500,000 maybe in 2025 or something, I don’t think the peak of this cycle will be as high, maybe $150,000 in late 2021.

 

[Jamari]

It should be clear by now that the USdollar is just paper. People are getting that the game is rigged since its inception: a monetary system which is inflated at whim will be beaten by a monetary system based on game theory, economic incentives and controlled supply.
A case for $500K USD per BTC is possible not just because Bitcoin is far superior but probably due to the fact that the USD will depreciate over time.

Can't wait to see this.
But it really need to take some time before we will see this.
Anything is really possible with Bitcoin, especially in term of price. We also experienced this when Bitcoin is around 2 digits price only, until become more than $100, and up until now.
USD will stay and Bitcoin too if ever we will reach $500,000 or more.

 

[Gustavo]

It's a possibility because so far I think we really haven't seen the greatest demand for Bitcoin.

I think $500,000 & even upwards of that is very possible but we may have to wait for the next bull cycle for those heights. $500,000 maybe in 2025 or something, I don’t think the peak of this cycle will be as high, maybe $150,000 in late 2021.

Does having a major capitulation scenario especially in a bear market may affect the possibility of it? I know somehow it's between 2020 or 2021 we'll see another bull run but the question is if wee see something happen like that again like 80% down in 2018 will it affect the health to get that point or not?

 

[Marvin]

The bulk of the article contained arguments against the USD as a store of value, with little on oil and gold which were only criticised in hindsight; as an effect of what could possibly happen in the future. This suggests that they think fiat is the most flawed system as a store of value.

I was more interested in the piece about oil. I come from a nation who's primary source of revenue is crude oil. With the world moving fast towards more safe and renewable sources of power, it's a strong argument that oil would not be as valuable in the distant future, the more people realize this, the earlier a switch can happen, drawing the crash closer.
The supply spike argument for gold is a bit vague, it's possible as studies has shown, but efficient space exploration would still take some years.
Also, a crash in gold or oil doesn't translate to a switch to Bitcoin. While Bitcoin and gold are usually juxtaposed, investors are not limited to these options. If the USD fails, we would likely see the legal tender of another nation emerge as the widely used source of reserve.

To the prediction. Any price is possible for an asset such as Bitcoin with a limited supply. $500,000 is a realistic figure, the question is when that price would be reached?