Man Who Bought Bitcoin At $1 Believes BTC Price Is Ultimately Headed For $100,000
Davinci Jeremie, an early crypto adopter and host of the davincij15 YouTube channel, predicts that Bitcoin’s price will grow by ten times in the next bull run but warns it could plunge further before then.
“I think we will finally see $100,000…I think we’ll do at least 10x from the bottom,” said Davinci at a November 25 interview with Kitco news. Asked by Kitco’s David Lin if his forecasts then meant that Bitcoin would have to drop to $10,000, he replied that “we will probably see $12,000.”
Jeremie, who is also a crypto influencer, is widely known for his famous quote, “I Told You So” after calling on people to purchase Bitcoin when it was retailing below $1 per unit in 2011. During the interview, he said that his interest in Bitcoin started in March 2011 when one of his subscribers asked him to look at the Bitcoin website. Although he was initially nervous about being scammed, his perspective on the blockchain network changed after digging deeper.
“I read through the source code and realized- oh my goodness! this is going to work,” he said.
According to him, he fell in love with Bitcoin after realizing that we now had a system of money that the government couldn’t stop, and you could transfer wealth to anyone around the world instantly without a third party.
“Every once in a while, something comes along that makes poor people rich coz they bought it really cheap-this is one of them,” Davinci added, describing why he decided to purchase Bitcoin. He further described how his pleas to people to purchase the world’s top cryptocurrency by market capitalization had fallen on deaf ears.
“I remember my first video which got 751 thumbs down and like 50 likes,” he went on. “I thought people would understand. They only wanted me to talk about gold and silver.”
For perspective, a single Bitcoin purchased at Jeremie’s $1 call in 2013 would have been up 6,878,800% as of November 10 2021, when the price reached an all-time high of $68,789. Since tapping ATH, Bitcoin has, however, pulled back sharply in the past year on the back of various macro-economic factors as well as liquidity crunches within the crypto sector.
Commenting on the crypto market downturn, Davinci further noted that the crypto winter could likely drag into 2024, suggesting that the next bull run will start after the next Bitcoin halving.
As of writing, Bitcoin traded at $16,541 after a 0.91% increase in the past day. However, the top cryptocurrency remains over 75% down from its all-time high.