Wikipedia co-founder Jimmy Wales reiterated his skepticism towards Bitcoin, stating that it has been a "complete failure" as a currency and store of value. He believes almost no one uses it as money and cited El Salvador's adoption of Bitcoin as an example of its failure. He also refuted the idea that Bitcoin's fixed supply can guarantee price increases, citing the undervaluation of Bitcoin Cash and Bitcoin SV as examples. While he does not think Bitcoin will collapse due to its strong network, he predicts its price will decline as its practicality diminishes, and he believes that by 2050, its price will fall below $10,000 (in current USD).
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Wikipedia co-founder Jimmy Wales reiterated his skepticism towards Bitcoin, stating that it has been a "complete failure" as a currency and store of value. He believes almost no one uses it as money and cited El Salvador's adoption of Bitcoin as an example of its failure. He also refuted the idea that Bitcoin's fixed supply can guarantee price increases, citing the undervaluation of Bitcoin Cash and Bitcoin SV as examples. While he does not think Bitcoin will collapse due to its strong network, he predicts its price will decline as its practicality diminishes, and he believes that by 2050, its price will fall below $10,000 (in current USD).