Wedbush Predicted Bitcoin's $100,000 Price Back in 2013

As Bitcoin hits the $100,000 mark, let’s revisit the first professional financial forecast predicting this milestone.

Back on December 1, 2013, Wedbush Securities published a report outlining Bitcoin’s potential and projecting this price level.

Wedbush Securities, a private financial firm offering investment banking services, became the first U.S. financial institution to accept Bitcoin as payment in 2014.

The 2013 prediction was based on these insights:

• Bitcoin could enable a low-cost, decentralized, open, and transparent payment network.
• It was seen as an alternative, uncorrelated asset like gold, ideal for portfolio diversification.
• Bitcoin was considered a safe haven, particularly for protecting savings from inflation and currency instability in emerging markets.

Ironically, these assumptions didn’t age well:

• Bitcoin is rarely used for payments.
• Its price shows significant correlation with the S&P 500 index.
• After sharp crashes in 2014, 2018, 2020, and 2022, few investors still view Bitcoin as a “safe haven.”

Yet today, Bitcoin is close to the $104,070 price Wedbush projected.

The report also predicted an even bolder $208,141 target. We’re not there yet, but who knows what the future holds?

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