If you thought crypto takes a vacation during the holidays, think again. This past week delivered everything from sky-high Bitcoin price predictions to vintage Peter Schiff mockery, proving that the cryptocurrency world never really sleeps. Here's what happened while you were presumably eating cookies and avoiding family debates.
Hayes Goes Big: Bitcoin at $750,000?
Arthur Hayes, the co-founder of cryptocurrency exchange BitMEX and Chief Investment Officer at Maelstrom Fund, dropped a prediction that made most Bitcoin bulls look cautious by comparison. In a conversation with CoinDesk, Hayes suggested that Bitcoin could hit a frankly absurd $750,000 by the end of 2027. His reasoning? The Trump administration's money printing policies could send Bitcoin into the stratosphere as investors flee traditional currencies. That's the kind of forecast that either makes you look like a genius or gets screenshot for future mockery. No middle ground here.
Peter Schiff Declares Victory (Again)
Speaking of mockery, notorious Bitcoin skeptic Peter Schiff couldn't resist dunking on crypto's recent price action. Schiff took to social media to ridicule what he called a failed "crypto Christmas," suggesting that Bitcoin's lackluster holiday performance proves the trade is finished. For those keeping score at home, this is roughly the 847th time Schiff has declared Bitcoin dead. The digital currency has ignored him every previous time, but hey, maybe this time is different?
Vitalik's Take on Prediction Markets
Meanwhile, Ethereum creator Vitalik Buterin was having more philosophical conversations. During a discussion on Farcaster, Buterin expressed his preference for prediction markets over traditional financial markets. His argument? Prediction platforms are fundamentally healthier and less susceptible to the pump-and-dump schemes and speculative bubbles that plague conventional trading. It's an interesting perspective from someone who literally created a platform that enabled thousands of speculative tokens, but Buterin's point about prediction markets having better incentive structures is worth considering.
Dogecoin's Naughty List
In perhaps the most on-brand move of the week, Dogecoin's official account decided to get festive by creating a "naughty list" on Christmas Day. The target? Businesses that still refuse to accept DOGE as payment. The account encouraged the community to tag companies on this list, promising to help them make it to the "nice list" next year. It's unclear whether major retailers are losing sleep over potentially disappointing a dog-themed cryptocurrency, but the campaign certainly got attention.
Trump Media's Bitcoin Confusion
Trump Media and Technology Group created some genuine confusion this week by denying it had made any new Bitcoin purchases. The denial came after on-chain data suggested the company had acquired more than $40 million worth of BTC. So either the blockchain data was misattributed, or someone at Trump Media needs to check with their accounting department. The contradiction stirred up plenty of speculation in markets that love nothing more than a good mystery involving presidential connections and cryptocurrency.
The week served as a reminder that crypto remains as unpredictable and entertaining as ever, with bold predictions, harsh critics, and the occasional dog meme all competing for attention. Whether Hayes' prediction comes true or Schiff finally gets his "I told you so" moment, one thing's certain: this space is never boring.