Bitcoin
Billionaire Mark Cuban issues ‘crazy’ Bitcoin price prediction amid wild swings in Ethereum, XRP and cryptocurrencies
Bitcoin
Bitcoin
has exploded into prominence in recent weeks, with former US President Donald Trump revealing a bombshell about bitcoin.
Bitcoin price has rebounded to all-time highs of nearly $70,000 per bitcoin, supporting the broader cryptocurrency market, including the top ten cryptocurrencies, Ethereum and XRP.
XRP
, as traders await a major turnaround in China.
Now, after a leak raised expectations of a bitcoin and cryptocurrency earthquake on Wall StreetBillionaire investor Mark Cuban has issued a “crazy” prediction about the price of bitcoin.
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Billionaire Shark Tank investor Mark Cuban has predicted that the price of bitcoin could “go higher… [+] than you think.”
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“How high can the [bitcoin] price goes,” Cuban asked in X. “Much higher than you think.”
Cuban highlighted bitcoin’s supply cap of 21 million and the bitcoin market being global, predicting that if the US dollar falls as the global reserve currency, bitcoin could become “a ‘safe haven’ globally” and a “global currency.”
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
Bitcoin’s price has soared over the past year, largely due to the world’s largest asset manager, BlackRock, leading Bitcoin’s charge on Wall Street.
A fleet of spot bitcoin exchange-traded funds (ETFs), led by BlackRock’s IBIT fund, have become some of the fastest-growing ETFs in history since their launch in January, sparking speculation that bitcoin’s price could follow a similar trajectory to gold, which soared in the years following the debut of its first ETF.
Cuban also said he believes the growing support among Silicon Valley founders, investors and executives for 2024 Republican White House candidate Donald Trump is actually a “bitcoin play.”
Musk officially endorsed Trump over the weekend after the former president was injured during an assassination attempt at a campaign rally in Pennsylvania, joining a flood of other tech founders and investors who have backed Trump.
“Not because the former president is a much stronger proponent of crypto,” Cuban wrote. “That’s cool. But it doesn’t really impact the price of crypto. It makes it easier to operate a crypto business because of the inevitable and necessary changes in the [U.S. Securities and Exchange Commission] SEC.”
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ForbesProject 2025 Sets Bitcoin Up for a $16 Trillion Price Showdown With GoldBy Billy Bambrough
The price of bitcoin has been on the rise again over the past year, with some issuing bullish predictions about the price of bitcoin… [+] predictions that could mean it goes much higher.
Forbes Digital Assets
The SEC and the Biden administration have been accused of waging war on bitcoin and cryptocurrencies — an idea embraced by influential Democratic Senator Elizabeth Warren.
“What will drive the price of bitcoin is lower tax rates and tariffs, which, if history is any guide (and it isn’t always), will be inflationary,” Cuban said. “Combine that with global uncertainty about the geopolitical role of the U.S. and the impact on the U.S. dollar as a reserve currency, and you can’t get the stars to align better for an acceleration in the price of bitcoin.”
Cuban, who is an outspoken Democrat, supporter of US President Joe Biden and said in 2018 that he would rather have bananas than bitcoin, became a convert to bitcoin and cryptocurrencies during the Covid pandemic and has warned that Trump could win the 2024 election due to Biden’s opposition to cryptocurrencies.
This week, Trump named pro-bitcoin and cryptocurrency former venture capitalist JD Vance as his 2024 running mate.
Trump has leaned into bitcoin and crypto in recent months after making millions from a series of crypto-based digital trading card non-fungible tokens (NFTs) and putting him at sharp odds with the Biden administration’s anti-crypto stance. Trump declared support for crypto in late May and began accepting campaign donations in bitcoin and a handful of other cryptocurrencies.