Bitcoin News Today: Bitcoin Advocate Predicts 400% Gain by Year End

On July 14, a post by Udi Wertheimer, a long-time Bitcoin advocate and “Taproot Wizard,” sparked a renewed debate about whether Bitcoin is on the brink of a “generational run” that has never been seen before. Wertheimer argues that Bitcoin is emerging from a rare “rotation” where early, price-sensitive holders have sold their coins to new investors, including exchange-traded-fund investors, corporate treasuries, and even nation-states, who are largely indifferent to the unit price. He asserts that once such rotations succeed, “what follows is a rally in multiples previously considered unimaginable.”

Wertheimer uses the example of Dogecoin’s 2019–2021 ascent to support his thesis. He recounts how an April 2019 tweet by Elon Musk triggered an initial 50 percent spike, lulling veteran traders into distributing their holdings. This was followed by a surge driven by TikTok-driven retail inflows, pushing the meme coin from roughly $0.0025 to nearly $1 within two years. Wertheimer describes this move as “the first dogecoin mindfuck,” followed by an even larger “second mindfuck” once legacy sellers exhausted their supply.

Wertheimer believes that Bitcoin is now in a similar position. He claims that traditional capital-market participants, such as BlackRock’s iShares Bitcoin ETF and Michael Saylor’s MicroStrategy, are blind to earlier cycle highs because they measure performance from the January 2024 ETF launch or in dollar-notional terms, respectively. He argues that such entities simply “shove as many dollars as they can” into Bitcoin, regardless of the price. Wertheimer is explicit about his price targets, stating that he has a high degree of confidence that Bitcoin will reach $400,000 by the end of the year, and this target might be too conservative. He further predicts an additional order-of-magnitude revaluation once “the entire world starts to believe,” echoing Dogecoin’s second-wave frenzy.

Wertheimer’s post also criticizes competing crypto assets, stating that “Your altcoins are fucked,” and suggesting that short-lived spurts of outperformance will not match the “sheer amount of capital flowing into bitcoin.” He singles out Ethereum as “the biggest loser of the cycle,” forecasting that MicroStrategy’s equity capitalization could surpass Ether’s market value and arguing that persistent selling by “old bagholders” will cap any relative rally. He predicts that ETH/BTC will continue to print lower highs, and that incoming treasury-style buyers would need “years” to absorb legacy supply before Ethereum can stage a true breakout.

Wertheimer urges readers to accumulate Bitcoin immediately, warning that waiting for price dips is futile now that “old holders are out.” He closes with a plea: “Wall Street is buying all of the bitcoins… please buy some bitcoin before there isn’t any left.” Wertheimer’s thesis hinges on the notion that seller-exhaustion dynamics proven in a small-cap meme coin can translate to Bitcoin’s vastly larger market. Whether that analogy holds will be tested in the months ahead; for now, his post has sharpened the fault line between long-term Bitcoin maximalists and a broader crypto community still weighing the merits—and risks—of what he calls “the first mind-fuck” of a potentially epoch-defining rally.