Self-help guru and former hedge fund manager James Altucher thinks bitcoin will reach $1 million in three years.
Bitcoin surged to a record high of $11,377.33 Wednesday morning, according to CoinDesk. Outspoken libertarian and MGT Capital Investments CEO John McAfee subsequently tweeted that he predicts bitcoin will reach $1 million by the end of 2020, double his previous forecast.
When CNBC asked Altucher if he agreed, he said yes.
“I’ll say $1 million by 2020, as well, easily,” Altucher said Wednesday on CNBC’s “Squawk Alley.” “There’s 15 million millionaires around the world. All their financial advisors are going to say, ‘Hey, buy a bitcoin. You need some exposure.'”
“There’s only going to be 21 million bitcoins minted ever in history. That’s also going to drive demand,” Altucher said.
He is a Top 10 LinkedIn Influencer, the author of the bestselling book “Choose Yourself” and an editor at The Altucher Report.
Bitcoin was trading near $10,811 as of midday Wednesday, according to CoinDesk.