Mexican billionaire thinks Bitcoin could hit $800,000

So, Ricardo Salinas, this businessman and Bitcoin supporter, really believes in the potential of Bitcoin. He sees it as a way to combat inflation. I heard he’s rocking a personal portfolio that's about 70% Bitcoin. Honestly, he's one of the rare folks willing to commit such a big chunk of their investments to Bitcoin. He’s pretty vocal about his belief in it too. I feel like what he's doing is great for getting more people interested in Bitcoin. Plus, he’s been pretty steady with his support and keeps adding to his Bitcoin stash over the years. What do you all think about this?

Must business figures and a lot of other financial experts have always been bullish on Bitcoin. and if you have being following recent market news and analysis most have pointed that we have a potential increase price for Bitcoin in the coming months. with most of them saying that the current price is the lowest Bitcoin can go before the next bull market.

I stopped getting surprised about these predictions long time ago. If some random dude came out of the woods and told me “btf wi go to a billion usd meng” It wouldn’t come as a surprise. Loom where we are. Not so long ago it went above friggin $100k. What difference does it make if it goes to $1 million or $10 million at this stage? Everything is possible. That doesn’t necessarily mean btc can’t go down tho. Btc may still go down a lot to shake down weak hands.

Those with knowledge and a vision for the future will believe that Bitcoin will see increased adoption and a sky-high price. That's what's often said. Some say it's $1 million, and others even more. Isn't that just speculation, regardless of who says it? One can believe it or not, but never expect it to happen tomorrow. Everything takes time, especially reaching such a high price. There needs to be a logical reason and sufficient funds to achieve it. The mistake people make, especially beginners, is immediately believing it will happen tomorrow, which leads to FOMO, fear of missing out, and so on, which ultimately kills their expectations because holding Bitcoin isn't as easy as it sounds. Seeing the rapid price volatility will make someone fearful, and very few people can survive.

Hey, I think it's possible that Bitcoin could increase in value, but maybe over the years, and even then, inflation will continue to rise. I just hope that the increase in inflation will be less than the increase in value that Bitcoin will have by then.

This, we all have no doubts that bitcoin would get to such highs, but we all do not know when it would happen. So it is not like this businessman has told us something novel. Though i disagree with him that it would happen "shortly", it depends on what shortly means to him anyway, but i am pretty certain we are a long way away from $800k. That said, if you have a 70% of your funds in an asset, it is normal for you to talk good about it and make interesting price prediction. So nobody should be surprised with this news or what this billionaire has to say, he also has a lot to benefit, just like every bitcoiner.

For that to happen every person on earth would have to own $2,000 worth of bitcoin. Bitcoin would be worth more than all of the Magnificent 7 companies combined. Without any significant sources of non-speculative demand that is delusional at best.

As a fairly successful businessman, I believe that Ricardo Salinas must have conducted extensive analysis before making his predictions. It is impossible for a successful businessman like him to speak without data and analysis. In fact, he was originally a traditional investor, and his shift to bitcoin must be based on strong reasons and the potential he sees for the future. I am sure there will be many more great businesspeople who initially only invested in traditional sectors and are now starting to try their hand at new sectors such as bitcoin. In May, it seems he only had 10% of his portfolio in Bitcoin.(https://indodax.com/academy/ricardo-salinas-bitcoin/) And I wouldn't be surprised if he has since bought more and now has a portfolio dominated by Bitcoin. However, news like this is usually highlighted when the market is moving in the opposite direction, i.e., bearish. Although I hope the market remains bullish.

Donald Trump is also a billionaire, but says things that aren't true probably at least ten times a day. Just because someone is a billionaire doesn't make them smart or that they aren't prone to telling you lies and BS. So you shouldn't believe someone just because they are rich. Until Mr. Salinas provides the data and analysis he is using, if any, as the basis for his bitcoin prediction then he is doing nothing but blowing smoke up your ass.

I've been seeing this many times people said Bitcoin would touch 200k, 300k, 1 million even more but the main question is when? The most important thing is that be realistic. Let's think about when he's invested in Bitcoin heavily. So it's a common thing to see he keeps prediction Bitcoin to reach certain value in the future. It's the way for him to drive people in buying more Bitcoin, and also drive his portfolio to increase. Just remember this if a billionaire like him will never tell you what's good for you to invest, but he's telling what's good for him. This is a mind game by him that not many people aware with it. So the realistic target must be breaking its previous ATH. I don't think he's still alive when Bitcoin reach his 800k prediction.

He's right about Bitcoin as a solution to inflation. Others won't believe him with that because they think that it's still a fad. Many boomers still believe that it's like that but whoever gets on the board will understand why people like him believes so much to the future good price that the potential of Bitcoin has got. We've even heard $500k, $1M and even more of Bitcoin's price from various people that they predict will happen on Bitcoin. The thing is, it's only a matter of time when.

Billionaires don't live in the same realms as you or I, they see things from a totally different perspective. This guy will likely be earning millions of dollars interest per day on his fortune, or at least have most of his fortune in a company that pays out or reinvests profits to grow bigger. He probably could add a dozen bitcoin a day to his pile and never even notice it, he's spending the money that his money makes and will never run out if he is even half way sensible. He will have a diversified portfolio in no way concentrated in Bitcoin, but has probably amassed enough by now that if bitcoin swung $50k or $100k in value he might jump up a hundred million dollars. He is just stirring the pot and likely trying to self enrich, rather than basing this on any facts.

If a wealthy businessman is not immune to bragging, at least their boasts seem more credible because they have demonstrated remarkable results with their wealth and businesses. Compared to the boasts of ordinary people like us, I think we might even brag more than they do, even though we are not as successful as they are.  This is not a matter of believing or not believing. It's just that they speak at large forums and are noticed by many people. So I don't think they would take such a big risk just to brag without data that could be questioned. They are prepared and have well-structured plans for their investments and businesses. And that is what has made them successful to date. And those of us who invest in Bitcoin at least entered Bitcoin before these entrepreneurs emerged and made predictions about Bitcoin. Personally, I have my own predictions that I analyze myself. So it doesn't matter what predictions others make. Because fundamentally, we shouldn't act based on others' predictions. We should only act and invest after analyzing things ourselves and being confident in our analysis. So this isn't about trusting or not trusting.

The fact that wealthy individuals now believe in Bitcoin and are investing in it gives us hope, strengthening our belief that Bitcoin will rise even higher. I think it's very positive for the market that more wealthy individuals are starting to invest in Bitcoin. We still have a long way to go. Bitcoin will trade at much higher prices in the future. Thanks to its deflationary structure, it will always try to reach new highs. This was the plan from the very beginning. Unlike governments printing money, no one can just print Bitcoin. Its production method is clearly defined. And this cannot be manipulated.

I do not think anything here to be frank, already we know that this could take time for bitcoin to get to zone he is saying right away, naturally anyone who wants to get the attention of the public will come on air to talks about bitcoin which we know too well that bitcoin must sure scale through that phase, even though it doesn't happened so soon but we could likely see it at a better price range. This was how people were predicting that bitcoin could even crossed above the half a mio dollar before the bull run, and there were lot of speculations but after the halving we ended up seeing bitcoin only crossing the range of 126k and the year is about to end, if not mistakenly we have less than 14 days for this year roll out completely. Even if he says bitcoin would hit 800k, I wouldn't argue as it would take around 2 to 3 halving for that to come to reality and that is long term projection.

Ricardo Salinas is not the only one that believes or think that Bitcoin will get to $800k, Free Market Cap believes that bitcoin will go to $1m and every Bitcoin enthusiast that has faith in Bitcoin is not wrong to think that Bitcoin will reach such a price in the future. According to what  Free Market Cap said, it's no longer crazy to think that Bitcoin will reach that $1m, but we don't have idea when that will happen.

I think that he didn't get to this by himself. He had a good advisor, similar to Bukele who had help from Saifedean Ammous, the author of The Bitcoin Standard. What can I say, he's most likely right, especially that he doesn't give a specific date, so I could say that bitcoin will be worth even more than 800k. IMO we're going to reach $1m one day, but it may take a decade, or even longer. Reading about older people who have so much confidence in bitcoin and are willing to wait a few years always makes me happy and respectful towards them. Also, he's not taking these numbers out of thin air. There are some real projections out there based on bitcoin taking a % of the gold market, or countries adding it to its balance. We know that Dubai is already buying and these guys alone have so much money that they could make bitcoin go to a new high tomorrow if they wanted to. The reason why they aren't is that low prices allow them to accumulate more without pumping it too much, so these companies and sovereign funds want to create fear and incentivize people to sell. Smart people can see that.

I am not surprised predicting bitcoin's future price at $800k, that's really achievable in time, probably 3-5 years from now. And mostly, if you are a real bitcoin investor and has developed high faith with bitcoin, and is currently accumulating bitcoin to increase more its portfolio, I believe what goes out of the mouth shows highly optimism about bitcoin, so it's not surprising though. I'm just amazed how persistent and determined he is when it comes to bitcoin. While some billionaires have continuously ignored the high potentials of bitcoin due to its high volatility and uncertainty, this person is different. He chose to encourage the audience about bitcoin, and how it will bring big changes to our country's and own economy if we start investing it now and hold for good.

We all heard different predictions coming from great bitcoin analysts, some are even high exaggerations, but I believe we will get there, but yes the problem will always be, when? Bitcoin has been in a slow and slight increase for years, so if the target is $800k, maybe by that time there could be a new digital asset that will closely compete with bitcoin, or let's say the government by that time will be highly open-minded and supportive about bitcoin, or the other way around, bitcoin will be more strictly regulated so that people will come to utilize bitcoin in a more cautious and vigilant manner. Everything with bitcoin is still uncertain for now, even this $800k price prediction, no guarantees yet if it will be happening soon or might never gain the chance.

Making predictions about Bitcoin without putting a timeframe is much better. I love the way he made the presentation and also the fact that he is holding 70% of his wealth in Bitcoin. He is right, Bitcoin will even get to $1m one day, it might take many years before Bitcoin get there but we will eventually see Bitcoin in that price. This idea is my motivation for holding Bitcoin which will definitely do greater in the future.