Kitco NEWS
03 June 2019 · 0 min read

Bitcoin at USD 1M 'is Still Possible', says James Altucher

Best-selling author and former hedge fund manager James Altucher is not backing down from his USD 1-million-dollar bitcoin call that he boldly made back in 2017. His timelines may be a little different however. Altucher made the call two years ago when bitcoin was trading around USD 11,000, he called for the crypto to hit USD 1 million by 2020. Now just one year away from that mark, Altucher said if bitcoin ends up replacing paper currency that the call is still not out of the question. “How much paper currency is out there…it’s about USD 200 hundred trillion dollars out in the world, and there is only about USD 200 billion dollars of crypto currency, so that is 100,000 percent from here. So that could give bitcoin a price of USD 8 million dollars, so USD 1 million dollars is even a discount to where bitcoin could eventually go. When it gets there, who knows,” Altucher explained in an interview on May 30.