Wikipedia founder reveals shocking Bitcoin price target
It's no secret that Wikipedia co-founder Jimmy Wales is a well-known crypto skeptic.
In 2020, he said he’s not ideologically opposed to Bitcoin (BTC) but doesn’t see any compelling reasons to use it right now.
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He once took a dig at the king coin in an X post in December 2023 when he said that one can forget a wallet password and lose BTC. Unlike it, banks work, he added.
Meanwhile, Bitcoin's price has risen from below $10,000 in 2020 to around $69,000 right now. But the near 7x surge hasn't turned Wales into a believer in BTC.
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Wales again slams Bitcoin
On Feb. 25, he wrote an X post to slam Bitcoin and predict a shockingly low price target for the asset.
He doesn't think BTC will crash to zero as the design is "robust enough" for it to "continue to exist in perpetuity," except in extreme circumstances like a cryptography breakdown. But it is a "complete failure" as a currency and a store of value and it will not be the dominant money of the future, he asserted.
Bitcoin is a "speculative asset at best" and no AI bots are adopting it in meaningful numbers, he added. He also dismissed the institutional support behind it as "ruthless" investment, not ideological.
While he acknowledged crypto's role in escaping financial scrutiny in an authoritarian society, he doesn't see it becoming a mainstream currency because it is hard to use, volatile, and isn't widely accepted.
"It's fine for hobbyists/enthusiasts but I think gold/silver/jewelry/real estate/fine art/etc will remain dominant as safe haven store of value."
Wales shared a very low price target for Bitcoin in which it will crash below $10,000 or even lower in 2050 in "today's dollars."
Bitcoin was trading at $68,716.20 at press time, rising 7% over the last 24 hours.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research before making any investment decisions.
This story was originally published by TheStreet on Feb 25, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
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