These billionaires nailed their predictions on cryptocurrency
Some billionaires made some prescient predictions about the cryptocurrency market in 2021. These are our top pics.
Shorting the Dogecoin top (Barry Silbert)
On May 8, the day Elon Musk’s “Saturday Night Live” appeared, Barry Silbert, CEO of crypto conglomerate Digital Currency Group, took to Twitter to announce that he had bypassed crypto -meme and urged Dogecoin holders to convert their profits to Bitcoin. The dog piece has plunged 40% in the 24 hours since Silbert’s tweet and has yet to recover.
Bitcoin peaking at $69,000 (Elon Musk)
On Oct. 22, Elon Musk posted a meme showing a couple lying on a bed and looking at a screen that shows Bitcoin trading at $69,000. The largest cryptocurrency ended up reaching that price level on Nov. 10, which ironically also happened to be its 2021 peak.
Buy Solana for $ 3 (Sam Bankman-Fried)
In a viral tweet, FTX CEO Sam Bankman-Fried, the richest man in crypto, hit back at critics who claimed Solana (SOL) was overvalued to $ 3 in January.
One of the best-performing cryptocurrencies of the year is up a staggering 5,733% since that call.
US Regulators Approve Bitcoin ETF (Mike Novogratz)
In February, Galaxy Digital CEO Mike Novogratz accurately predicted that the first Bitcoin exchange-traded fund would launch in the United States this year.
U.S. regulators have only managed to approve a futures-based Bitcoin ETF, while the industry is clamoring for its spot version.
Novogratz too planned with precision a Bitcoin rally in the fourth quarter.
Shrugging off China’s Bitcoin ban (Michael Saylor)
MicroStrategy CEO Michael Saylor was spot on when he downplayed the seriousness of China’s Bitcoin ban, claiming that it would actually benefit Bitcoin.
The United States has now become the world’s largest mining center, ending “China FUD”. Earlier this month, the Bitcoin network also got stronger than ever, with hashrate reaching new highs.
