There are not so many that believe in Bitcoin as much as Didi Taihuttu, his wife, and three kids. In early 2017, the family liquidated most of their assets to buy Bitcoin and traded the comfort of their home in exchange for a life on the road.
Their initial bet on Bitcoin paid off handsomely when the cryptocurrency hit an all-time high in late 2017. When the price of the cryptocurrency hit rock bottom in 2018, and many investors sold off, Tiahutti’s family bought even more bitcoins.
Nearly two years later, Bitcoin has roared back, and Taihuttu has told CNBC that he never doubted that Bitcoin would rebound from its 2018 lows. He also describes the current bull cycle as one that could see the price of Bitcoin hit $100,000 and even more.
The Dutch entrepreneur, said,
I think in this bull cycle, we are going to see a minimal peak of $100,000. I won’t be surprised if it hits $200,000 by 2022.
Taihutti attributes his latest price prediction to an upcoming “supply crisis” for bitcoin that would be buoyed by demand from both institutional and retail investors. He particularly cited PayPal’s ground-breaking decision to support Bitcoin trading for its 350 million users this year, adding that the payment giant will need to source its bitcoin holdings from somewhere.
“There will be a huge supply crisis, because there won’t be enough new bitcoins mined everyday to fulfill the need by huge companies,” Taihutti said.
Admittedly, Taihutti’s on-the-road family are not the only ones predicted a big move for Bitcoin in the coming years.
Gemini Exchange founders, Cameron and Tyler Winklevoss, said this week that the current macro conditions would propel Bitcoin to hit $500k within this decade. Stock-to-flow (S2F) creator, PlanB has also doubled down on his spectacular $100k price for Bitcoin in 2021, mentioning that the ‘supply shock for Bitcoin is real.’
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