Cryptocurrency expert John E Deaton has questioned the bullish predictions of prominent Bitcoin advocates, including Cathie Wood, Larry Fink, Tim Draper, and others. He poses a challenge to their long-held belief in Bitcoin’s potential after its recent surge past $103,000. With Bitcoin reaching these new highs, investors like Bill Miller, Cathie Wood, Larry Fink, Tim Draper, and Michael Saylor have poured billions into the cryptocurrency. This raises the question: are their bullish predictions for Bitcoin accurate? Deaton highlights these points of concern:
* **Billionaire Investors’ Commitment:** Cathie Wood’s ARK Investment Management, with over $26 billion in assets under management, has shown a strong commitment to Bitcoin. She increased her holdings by purchasing 997 BTC worth $102 million through Coinbase in March 2025. Similarly, Larry Fink, CEO of BlackRock, holds over 582,000 BTC valued at nearly $60 billion. Michael Saylor, known for his prediction of Bitcoin becoming the world’s biggest exchange-traded fund (IBIT), also believes in the long-term potential of the cryptocurrency.
* **The