Controversial Debate: Financial Expert Revises Bitcoin Forecast While Saylor Criticizes the Community

The Bitcoin community finds itself caught between traditional financial experts and prominent advocates. Two recent statements reveal different perspectives on the largest cryptocurrency – and raise fundamental questions about valuation and investment strategies.

Beck Admits Misjudgment – But Remains Skeptical

Dr. Andreas Beck, one of the most prominent German-speaking financial influencers and a Munich-based portfolio manager, has publicly admitted that his previous Bitcoin forecast was wrong. "It's the best example of me being wrong," Beck explained in conversation with Martin Kerscher from comdirect ^[1]. The financial expert was particularly surprised that Bitcoin "is so resistant to the bursting of its marketing bubbles" ^[1].

His original assessment that Bitcoin's price would fall to zero in the near term is now characterized by Beck as no longer tenable ^[1]. The portfolio manager admitted to having underestimated both the loyalty of Bitcoin supporters and the impact of spot ETFs launched in the USA in January 2024 ^[1].

Despite this correction, Beck remains true to his critical stance. He expects that by 2026, no one will be talking about Bitcoin as a store of value or superior means of payment – instead, the cryptocurrency is merely a popular object of speculation ^[1]. His personal consequence: at the end of 2024, Beck sold his own Bitcoin in favor of two underground parking spaces in Munich ^[1].

Fundamental Criticisms Remain

Beck maintains his assessment that Bitcoin has "no real equivalent value" ^[1]. Even the limitation to 21 million coins is not a convincing argument for the mathematician, as in his view there is "no actual need" ^[1]. With statements like "The blockchain is empty, there's nothing there," he is likely to continue causing controversy in the Bitcoin community ^[1].

Beck no longer wants to make a new price forecast, as in his opinion no one can seriously predict where the BTC price will stand in a year ^[1]. For comparison: his fund "Global Portfolio One," launched in 2019, has achieved a euro return of 70 percent since inception, while the iShares MSCI World gained 108 percent over the same period ^[1].

Saylor Defends Treasury Stocks Against Community Criticism

On the other side of the spectrum, Michael Saylor, who invested $25 billion in Bitcoin through his company MicroStrategy in the past trading year alone ^[2], goes on the offensive against parts of the Bitcoin community in the latest episode of the "What Bitcoin Did" podcast.

In light of the drastic price decline of many Bitcoin treasury stocks, Saylor sharply criticizes the attitude of many Bitcoin supporters. "Part of the problem is that members of the Bitcoin community can't imagine buying stocks, or they think stocks aren't as good as Bitcoin," the MicroStrategy founder explains ^[2].

His provocative thesis: treasury stocks are "just as good, in fact better, since companies enjoy all kinds of tax advantages and operational benefits" ^[2]. Saylor pushes back against criticism of the numerous new Bitcoin treasury companies and calls the question of whether the market can support 200 different treasuries "silly" and "insulting" ^[2].

Long-Term Perspective Instead of Short-Term Speculation

Saylor becomes particularly pointed in his criticism of short-term investors: "Anyone who hasn't struggled for at least four years isn't even a casual investor. They're just a speculator or trader" ^[2]. As a fundamental problem of the Bitcoin community, he identifies a "very short memory," with events from the last five days dominating conversations too much ^[2].

Saylor also criticizes the community for targeting the one percent of the world that is actually on the same side, instead of the rest who are hostile to Bitcoin ^[2]. "We spend so much time criticizing other Bitcoin users and other Bitcoin companies," the entrepreneur complains ^[2].

The two perspectives exemplify the ongoing debate about Bitcoin: while traditional financial experts like Beck articulate fundamental reservations, Saylor calls on the community for more openness toward different investment approaches and a longer-term perspective.