Everyone Is Wrong About Bitcoin: “Have Fun Staying Poor!”

Get Started Today and Sign up for Experian Subscription Cancellation and Bill Negotiation by visiting or by downloading the Experian App Enjoy! Let's discuss Bitcoin Price Predictions in 2024, the Bitcoin Halving, and the bull / bear case for the future Add me on InstagramGPStephan

Disclaimer: Results will vary. Not all bills are eligible, savings are not guaranteed, and some may not see savings. Negotiation/cancellation services available with eligible paid memberships. See experian.com for details. ©2024 Experian

Check out to sign up and receive a $20 bonus when you start saving & investing with Acorns!*

Paid ad. Compensation provides an incentive to positively promote Acorns. The information and opinions presented are for informational purposes only and represent the views of the promoter as of the date created and are subject to change. Investment advisory services offered by Acorns Advisers, LLC, an SEC-registered investment adviser. View important disclosures at Acorns.com.

GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER

BITCOIN IN 2024:

Bear Case Scenarios:

Warren Buffet famously said “You can’t value Bitcoin because it’s not a value-producing asset…If you buy something like Bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.”

Charlie Munger has taken a tougher stance - he's called it “Rat Poison that will go to Zero,” that it’s “crazy, stupid gambling - anyone who disagrees is an idiot,” and compares it to - and I quote: “Somebody Else Is Trading Turds And You Decide, I Can't Be Left Out.”

The CEO of JP Morgan, Jamie Dimon, also agrees with this, slamming it as “worthless and a tool for criminals,” and then famously drawing comparisons to smoking, where - you have a right to use and own it - but, it’s bad for you.

An economics professor at Harvard also makes the argument that “People in power will move to regulate anonymous transactions. That you can be sure of."

Deutsche Bank also surveyed their customers, with the majority believing that it will fall below $20,000 by year old.

Bull Case Scenarios:

The asset manager of 3IQ says that his “mid- to high-range price target for bitcoin this year at between $160,000 and $180,000. Next year, it anticipates an eye-popping target of $350,000 to $450,000.”

Another analyst also arrived at a $150,000 price target by assuming “$10 billion inflows for 2024 and another $60 billion for 2025," while Cathie Wood believes that $1 MILLION bitcoin could happen around 2030. Robert Kiyosaki says he thinks that a single Bitcoin will one day be worth $2.3 million dollars.

Some people also cite past performance after the Bitcoin halving, in which - so far - prices have increased in the following 18 months.

My Thoughts:

Fortune recently published a fantastic piece about how Cryptocurrency is seen as “intergeneration revenge” on the financial system, and for the first time - people can take complete ownership of their own money - and, I agree. Of course, with that comes some potentially disastrous risks - but, so far - for those that have bought and held Bitcoin - they’ve been correct.

That’s why I believe - sure, something like Bitcoin has its purpose and it could one day be worth a LOT more money - but, as many times have shown - it could also drop a substantial amount, and that needs to be considered.

The YouTube Creator Academy:

Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source$100 OFF WITH CODE 100OFF

For business inquiries, you can reach me at grahamstephanbusiness@gmail.com

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice.