Peter McCormack
Resolved (16)
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Peter McCormack stated he expects Bitcoin to exceed $100,000 at some point, perhaps in 2024.
“And that's mining Bitcoin at $17,000 with the price at $60,000. But we all are fairly confident that that's going to go higher. We expect $100,000 to get beat at some point, perhaps this year.”
BTC traded as high as $108,389 in [2024-05-17..2024-12-31], reaching the $100,000 target.
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Peter McCormack believes Bitcoin's compound annual growth rate will outpace Real Bedford FC's capital spending needs over the next two years, implying continued strong Bitcoin appreciation.
“if Bitcoin does what I think it'll do over the next two years, I think our capital needs will never catch up with the compound annual growth rate of Bitcoin. So essentially our treasury will always be ahead of our capital needs”
Over the two-year window (Apr 2024-Apr 2026) BTC rallied to 126,296 then fell back below the 64,256 entry (now 58,161) — strong appreciation realized but gave it all back.
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Peter McCormack predicts Bitcoin will surpass $100,000 and that crossing that level will trigger mainstream media coverage and a new wave of public interest.
“I actually think it might even be once it goes over 100k because I think that 100k data point is just huge... I think that 100,000 like USD. I think that's going to be a big day. And I think that's when the phone calls will be.”
BTC traded as high as $109,358 in [2024-03-07..2025-03-07], reaching the $100,000 target.
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McCormack bet Michael Green (Simplify chief strategist) at 5:1 odds that Bitcoin would reach at least $100,000 before the end of 2024. If BTC hit $100k by Dec 31, 2024, Green would pay him $20,000; if it failed, McCormack would owe Green $100,000.
“He wagered at 5-1 odds that Bitcoin would reach at least $100,000 before December 31, 2024. If unsuccessful, McCormack owes $100,000 to counterparty Michael Green; if successful, Green owes $20,000.”
BTC traded as high as $108,389 in [2024-03-05..2024-12-31], reaching the $100,000 target.
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Peter McCormack said he believes Bitcoin has bottomed at $33k and is now heading higher.
“I feel like we bottomed out for 33k. Price-wise, I think we've bottomed out for now. We'll see whether this is a channel or whether it's really like rocket fuel for the next kind of macro slash network effect driven leg up. I think it could be.”
BTC fell to $15,460 in [2022-03-08..2022-12-08], below the $33,000 floor.
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Peter McCormack predicted Bitcoin would not reach $300,000 by end of 2021, expressing confidence he will win his under-bet against American HODL.
“Under over 300k. I took under. Oh, yeah. I think you're going to win that by the end of this year, right? Yeah, end of the year.”
BTC's high was $59,250, stayed at/below $300,000 (through 2021-12-31).
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Peter McCormack suggested Bitcoin could trade at $500,000 before the end of 2021, and that it will reach that level at some point.
“you and I both know that this thing could trade at $500,000 before this calendar year is over. Who knows? That's totally possible. And at some point, it will. I don't know when, but it will. There's plenty of upside left.”
BTC's high was only $69,000 through the 2021-12-31 horizon; never reached $500,000.
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Peter McCormack predicted Bitcoin would breach $100,000 within the next three months.
“I feel like we're on the tipping point of some kind of explosive growth. I expect us within the next, I don't know, let's be broad, let's say the next three months to breach $100,000. I think there's so much stuff happening.”
BTC's high was only $48,177 through the 2021-08-19 horizon; never reached $100,000.
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Bitcoin will hit $100K, describing it as inevitable and coming soon.
“Seems to be a nothing burger. Anyway, it just seems a matter of time, though. We're going to hit 100K soon, right? It's coming. It's inevitable.”
BTC's high was only $69,000 through the 2022-01-16 horizon; never reached $100,000.
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Bitcoin will hit $70K soon given it is currently over $60K.
“Pretty excited with Bitcoin right now. Well, we're over 60k. I think we're going to hit 70k soon.”
BTC traded as high as $69,000 in [2021-04-12..2022-01-12], reaching the $70,000 target (within 1.4% — near-miss counted).
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Peter McCormack predicts Bitcoin will return to $60k and then hit $70k, calling $100k inevitable.
“It's edging back to new all-time highs. We tapped 60k. It's going to get back there, right? And then we're going to hit 70k. I think 100k is inevitable.”
BTC's high was only $69,000 through the 2021-12-19 horizon; never reached $100,000.
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Peter McCormack expects Bitcoin to hit $58,000 and then a new all-time high above $60,000 in the near term.
“Bitcoin has rallied back over $54,000 overnight. Looking pretty hot at the moment. And just like we're going to hit $58,000 again. Maybe over $60,000, another all-time high. We haven't had one for a few weeks.”
BTC traded as high as $69,000 in [2021-03-09..2021-12-09], reaching the $60,000 target.
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Peter McCormack says Bitcoin could go to a million or even ten million dollars, calling a million no longer a crazy target.
“It's basically like the best investment of all time, right? And I have a feeling that it's not going to settle down for a while. You know, I mean, it could go to a million, even 10 million. A million is no longer a crazy number to put out there for Bitcoin.”
BTC's high was only $126,296 through the 2026-03-02 horizon; never reached $1,000,000.
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Peter McCormack predicts Bitcoin will have a very good March 2021 following its dip to $45k.
“Bitcoin is back over 50,000. When it dipped back over, it's looking pretty strong. Since it dipped down to 45k, I've got a feeling we're going to see a very good March following a great start to the year.”
Predicted a very good March 2021; BTC rallied from 48,512 to 61,788 high by Mar 31 2021 — a strong month.
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Peter McCormack says Bitcoin is probably going to go over $50,000 in the next few days from the episode recording date.
“It's probably going to go over 50 in the next few days. And everyone, it's a race because if you don't get in at 50, you're going to get in 100. If you don't do it 100, it's going to be 150.”
BTC traded as high as $49,700 in [2021-02-09..2021-02-14], reaching the $50,000 target (within 0.6% — near-miss counted).
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Bitcoin will recover above $42K at some point in 2021, and may even exceed $50K within the month.
“Like at some point this year, it's going to be back over $42. You might even do it this month, be back over $50. Like I've never been so calm about losing so much money in my life.”
BTC traded as high as $69,000 in [2021-01-20..2021-12-31], reaching the $42,000 target.
Open (2)
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Peter McCormack believes the era of explosive retail-driven Bitcoin bull markets is over and will not return.
“No, I think they're done. I think we've had those. I think that experience is done. I mean, look, I could be wrong. 2029, it might be different. The world might be melting down and people realize they need Bitcoin. But I don't see it happening.”
Resolves true (McCormack correct) if Bitcoin fails to produce a retail-pandemonium-driven cycle with multiple 30%+ drawdowns followed by a blow-off top through 2029; resolves false if a comparable retail frenzy bull market occurs.
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Peter McCormack expects Bitcoin's performance over the next two decades will outpace a declining compound annual growth rate, keeping his club's treasury ahead of capital needs.
“The math in my head is that I think if Bitcoin reprises how I think it will do over the next two decades, we will not spend at the rate that we will grow that treasury based on even a declining compound annual growth rate. So that's my thesis.”
Two-decade horizon with no real deadline; outcome undetermined.