Jimmy Wales Warns of Potential Decline in Bitcoin Value by 2050

Bitcoin's long-term prospects have been called into question by Wikipedia co-founder Jimmy Wales, who predicts that the cryptocurrency may decline to 'hobbyist levels' by 2050.

In a statement, Wales emphasized the technical robustness of Bitcoin's design, suggesting that it will continue to exist as a network for decades. However, he also highlighted the cryptocurrency's fundamental limitations in terms of adoption, utility, and store of value.

Wales' forecast reflects broader concerns among analysts, who point to Bitcoin's volatility and weak adoption as major drawbacks. While some argue that institutional accumulation or ETFs could stabilize the price, others caution against overreacting to temporary price dips.