Hunter Biden said he expects Bitcoin to reach $220,000 by 2028, offering an unusually bullish outlook during an interview with Bitcoin Magazine's BMTV. The son of former President Joe Biden a
Hunter Biden said he expects Bitcoin to reach $220,000 by 2028, offering an unusually bullish outlook during an interview with Bitcoin Magazine's BMTV.
The son of former President Joe Biden also pushed back against Democratic critics of the crypto industry, including Sen. Elizabeth Warren (D-MA).
Biden's $220,000 target is well above current levels, with Bitcoin trading near $82,900 at the time of the interview.
He said his own artwork is tied to the blockchain and pointed to Bitcoin's use in cross-border payments, arguing it avoids reliance on what he called a "mega monopolistic bank."
“Bitcoin is here to stay, just watch what the banks are doing. Watch what Wall Street is doing," said Biden.
Related: Analyst says XRP could be ready for a big move
Biden addressed criticism from lawmakers who have targeted crypto, singling out Warren by name. Warren has been a vocal critic of the crypto industry and of President Donald Trump's crypto wealth. She also voted against advancing the CLARITY Act in a Sept. 15 procedural vote that failed 49-50.
"I love Elizabeth Warren. I really do. But I think she is so wrong about this," he said. He acknowledged the industry has "an enormous amount of grift" but rejected blanket claims that Bitcoin is headed to zero.
The interview came as Biden's own meme coin, LAPTOP, remains under scrutiny. Launched earlier this month, the token has fallen more than 99% from its peak amid pump-and-dump allegations.
Biden called the launch "horrible" and blamed liquidity problems for early price spikes, but said he remains "100% committed" to the project and promised "a full accounting one way or another."
“Here's another reason that I believe in the meme economy to a certain degree. Everybody that is in Web2 world, every normie, they literally have no idea what anyone's talking about. What I say to them is that there are over 10 million meme points,” he said while talking about the meme coin.
“People are engaged in this economy. I wouldn't suggest anybody that doesn't know what they're doing to ever get engaged in this economy,” he added.
