Wikipedia Co-Founder Says Bitcoin Could Plunge to $10,000 by 2050

▲ Bitcoin (BTC) plunge / ChatGPT-generated image

Jimmy Wales, co-founder of Wikipedia, expressed a pessimistic outlook, saying that “Bitcoin will eventually be pushed out of mainstream finance and reduced to the domain of a small group of enthusiasts,” predicting that its price will fall below $10,000 by 2050.

On February 25 (local time), cryptocurrency media outlet U.Today reported that Wales poured cold water on the digital asset market by giving an extremely negative assessment of Bitcoin’s long-term value. While acknowledging that Bitcoin’s structural design is robust enough that it will not disappear entirely, Wales argued that due to its lack of practical utility, it will lose its status as a store of value or currency in the future and decline to the level of a collectible for hobbyists.

“Those who believe Bitcoin will go to $0 are probably wrong, but by 2050 its price, in today’s terms, will be below $10,000—perhaps much lower,” Wales said. He described Bitcoin as a “complete failure” as both a currency and a store of value, asserting that it will not become the dominant currency of the future. In his view, traditional safe-haven assets such as gold, silver, gemstones, and real estate will continue to dominate as primary stores of value instead of Bitcoin.

Wales also expressed strong skepticism toward the industry’s optimism that Bitcoin could serve as an “escape hatch” to protect citizens’ assets under authoritarian regimes. He pointed out that Bitcoin is difficult to use, highly volatile, and not widely accepted as a practical means of payment, arguing that while it may suit hobbyists, it has clear limitations as a safe asset for the general public.

Wales reacted cynically to claims that institutional adoption would support Bitcoin’s price. He emphasized that traditional financial institutions handling spot ETFs or futures products tied to digital assets are not ideologically driven but strictly profit-oriented, warning that if public interest wanes, they could easily allow the value of Bitcoin-related products to decline.

Ultimately, Jimmy Wales’ remarks raise a fundamental question about whether Bitcoin can move beyond technological innovation and firmly establish itself within a practical economic ecosystem. Coming at a time when Bitcoin has rebounded to recover $66,000, his sharp criticism is likely to intensify debate over the market’s long-term direction. Rather than reacting emotionally to provocative forecasts from high-profile figures, investors should focus on the actual pace of Bitcoin adoption and ongoing technological improvements while maintaining a long-term perspective.

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