Who Is Kim Dotcom?
If cartoon villains entered the real world, they’d probably look a lot like Kim Dotcom, the notorious Internet entrepreneur who founded Megaupload Ltd.
Not only does he live in a remote part of the world (New Zealand), but his ongoing feud with the U.S. government and Hollywood sounds like it was ripped straight from the pages of an Austin Powers screenplay. He would be Dr. Evil to their MI6.
That said, Kim Dotcom should not be dismissed as an Internet wackjob. He has serious accomplishments under his belt, including having built one of the largest websites in the world: the now defunct Megaupload.
At its height, Megaupload was pulling in 150 million visitors per month. Think of it like “Dropbox” before Dropbox existed. Users could upload videos and other types of data files to the website and share them with a link. If you’ve ever tried (and failed) to send a large file via email, you can see how this service would be useful.
However, content pirates saw Megaupload in an entirely different light. From their perspective, it was a platform committed to neutrality, meaning that anything and everything could be hosted on its servers. That included illegally stolen content from U.S. companies.
Naturally, this posed a major threat to Hollywood. Why would anyone pay for movies or TV shows if they could get them online for free? That was the concern that urged Hollywood to contact their lackeys in Washington. Cut to the next scene; Washington is gunning for Kim Dotcom.
It doesn’t take much to connect the dots…
In partnership with local authorities, the U.S. government raided Kim Dotcom’s offices in New Zealand and his servers in the U.S. It seized more than $175.0 million and confiscated 18 of his luxury cars.
Since then, the U.S. government has been trying to extradite him to the U.S. but that case is not going well. Kim Dotcom appears to be winning the legal battle. In fact, he’s so confident that he’s back with two new startups and a BTC price prediction for 2030.
He thinks Bitcoin can reach $100,000.
Kim Dotcom Bitcoin Prediction: $100,000
It would be easy to laugh off the Kim Dotcom Bitcoin prediction as a PR stunt.
Journalists are suckers for a bold prediction, especially when it comes from a celebrity. So, of course, it’s possible that Kim Dotcom forecasted a Bitcoin market cap of $2.0 trillion in order to gin up attention for his blockchain startups.
However, there are several factors that indicate Dotcom’s sincerity in this prediction. For one thing, Steve Wozniak, the co-founder of Apple Inc. (NASDAQ:AAPL) and a bona fide genius in his own right, says that Kim is a straight shooter.
But there’s more.
If Dotcom didn’t really believe in Bitcoin’s potential, why is he building two companies that revolve around Bitcoin and blockchain technology? Think about it. Would he really invest his time and resources on something that he believes is here today and gone tomorrow?
That would take an awful lot of cynicism. Even worse, it could ruin his reputation with the 660,000 tech junkies that follow him on Twitter. Strange though it might seem to the mainstream elites that detest him, Dotcom might be giving his honest assessment.
He might be betting on Bitcoin and blockchain because he genuinely believes the cryptocurrency market cap can skyrocket to $2.0 trillion. It’s not inconceivable.
Here are some quick numbers to show you how it could happen.
Bitcoin is currently trading at around $4,550. This means it needs to appreciate 2,097.8% in order to reach $100,000. Is it possible for Bitcoin to achieve those kinds of gains?
Of course. In fact, Bitcoin has already achieved those kinds of returns.
Take a look at the Bitcoin price chart.
BTC prices were level at $135.00, meaning they advanced more than 3,270% to get where they are today. In other words, Bitcoin has already proven its ability to expand at that rate…faster than that rate, actually.
So the Kim Dotcom Bitcoin prediction isn’t inconceivable. That said, I can already hear the criticisms.
“Come on, Gaurav. It’s one thing to say Bitcoin can reach $10,000, but forecasting $100,000 is flat out ridiculous.”
I’m not so sure, dear reader. For one thing, this prediction isn’t likely to manifest overnight. It will take a decade (at least), which is why this is a BTC price prediction for 2030.
And, more to the point, Kim Dotcom is not sitting idly by, waiting for this prediction to come true.
One of his new startups, Bitcache, is developing a blockchain-based micropayments system that would transform Bitcoin’s usability from theory to reality. It would essentially break Bitcoin into a smaller denomination—called “Bits”—for day-to-day transactions.
Specifically, Bitcache would give people a way to pay for content they really enjoy.
Let’s say you watch a video explaining how to grill the perfect steak. It’s a great video, and you feel like it was worth *blank* amount of money. Bitcache would provide a one-button option for paying for the content. Sounds like Patreon, right?
Here’s the difference: Bitcache processes payments on the blockchain, skirting traditional banking infrastructure and rewarding content creators directly. Plus, the payments render in Bits, which would help propel BTC towards its Bitcoin price prediction for 2030.
Micropayments are the Holy Grail of Bitcoin. If Kim Dotcom can bring it to fruition, he would (finally) transform Bitcoin from a speculative commodity to an actual currency. And in doing so, he also could also fulfill his own prophecy of a $2.0-trillion Bitcoin market cap.
Don’t forget that he is a proven tech visionary.
Megaupload was the 14th most-trafficked website in the world at one point. As long as Kim Dotcom can replicate that type of mass appeal, Bitcoin most definitely stands a chance at reaching $100,000.