Belgian Economist Who Called Bitcoin at $5 Remains a Key Voice in Crypto Research

Tuur Demeester is a Belgian economist and macro analyst who has been following Bitcoin since its early days. In 2012, he told his newsletter subscribers to buy Bitcoin at $5, which became one of the most closely watched calls in Bitcoin's history.

Demeester's track record dates back to 2006 when he co-founded the Belgian Rothbard Institute, a research-focused think tank named after Murray Rothbard. He then shifted his focus to Bitcoin analysis and launched an investment newsletter called MacroTrends in 2011.

In 2012, Demeester predicted that Bitcoin would be a great opportunity if governments and banks faced a debt crisis due to its open-source design and resistance to confiscation. His call to buy Bitcoin at $5 was made when the cryptocurrency was trading at that price, and he has continued to publish cycle and valuation reports through his firm Adamant Research.

Today, Demeester serves as an advisor to Blockstream after selling his hedge fund Adamant Capital in 2021. He continues to lead Adamant Research and has projected that Bitcoin's cycle peak could arrive sometime between January and September 2026 based on his reading of on-chain data.