Meeting with Marc Friedrich and current predictions
Some time ago, Bitcoin legend Jack Mallers met with investment advisor Marc Friedrich for an interview, although the video was only released yesterday. In this conversation, Mallers, founder and CEO of Strike, one of the largest Bitcoin-based payment service companies, confirmed his price target for Bitcoin mentioned in May 2024. He believes that Bitcoin could be between $250,000 and $1 million next year. When asked for a specific number, he responded with $650,000. The reason for his optimistic outlook: Bitcoin allows people to escape the deteriorating financial system peacefully, invisibly, and weightlessly — unlike physical gold. With just 12 words that can be stored in the mind, Bitcoin offers a secure and discreet method of storing value even during times of crisis.
Long-term price prediction and critical view of ETFs
When asked about the long-term developments of Bitcoin, Mallers gave a surprising answer. In the interview, he stated that one Bitcoin would be "worth one Bitcoin" in 10 years. This statement points to the volatility of financial markets and the uncertainties in the fiat system. Despite unclear fiat valuations, Mallers is convinced that Bitcoin will gain value in the long term.
Both Mallers and Friedrich also expressed criticism of the role of Bitcoin ETFs. They see the danger that Wall Street's large financial power could negatively impact the Bitcoin ecosystem. However, Mallers sees a positive aspect in the fact that the majority of Bitcoins are already in circulation and are held by long-term investors. This minimizes the possibility that institutional investors from Wall Street could manipulate the market. For Mallers, this is crucial to protect Bitcoin as a "freedom instrument" independent of government institutions. This allows people to store and secure their time and energy without relying on the permission or goodwill of governments.
Cycle theory and price predictions
Mallers also discussed his cycle theory, which suggests that Bitcoin could reach new highs by the end of 2025. The distribution of Bitcoins, of which 19 million out of a total of 21 million units are already in circulation, plays a central role in this. Many of these Bitcoins are irretrievably lost, further influencing scarcity and thus the price.
Jack Mallers is optimistic about the future of Bitcoin, despite potential challenges from institutional investors. His predictions for the price and role of Bitcoin in the future financial landscape are bold but well thought out. It remains to be seen how the market will develop in the coming years, but one thing seems certain: Bitcoin remains a hot topic in the global financial world.
