“By the end of 2021, the price of bitcoin will be higher than it is today.”

Bitcoin has been described by some economists as "not decentralized", "not secure", "not scalable", and a "total flop". Others have compared bitcoin to tulip mania of the 1600s, and many have predicted its imminent demise, e.g. Nouriel Roubini at a recent conference in Taipei has predicted bitcoin to asymptotically go to 0 over the next five years. I predict the opposite: that bitcoin is an extremely effective medium for long-term savings. The outcome of this prediction is important because it affects the savings of many people, and our understanding of the financial system.