Wondering whether you should trust James Altucher predictions for 2022?
In his seminal book, Choose Yourself, James Altucher posits that the world is changing.
He says that industries have been disrupted leading to job losses and lost income and everything we aspired to for “security” (college, employment, government, retirement ) has been shown to no longer offer safety.
The ideas in that book inform most of what James Altucher talks about today when it comes to investing in the markets. We will take a look at James Altucher predictions he has issued of late.
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James Altucher Predictions
Who is James Altucher?
James Altucher is an entrepreneur, angel investor, investment analyst, chess master, and writer. He’s best known for writing the Wall Street Journal bestselling book “Choose Yourself.”
James is a prolific entrepreneur and claims to have started 20 companies, 17 of which have failed.
James Altucher is a big believer in personal agency and ownership whereby each person is the cause of his own thoughts and actions rather than shifting responsibility to outside elements. It is the crux of self-improvement, which James believes in and writes constantly about in his books.
He has published 18 books, including WSJ best-sellers like ‘The Power of No‘ and ‘Choose Yourself‘. The new book he recently wrote called “Reinvent Yourself” was #1 in the Amazon store shortly after its release.
In addition to books, his writing has featured in major media outlets like The New York Observer, Techcrunch, the Wall Street Journal, The Financial Times, and Yahoo Finance to name a few. He runs a blog at JamesAltucher.com that has been visited more than 20 million times since 2010.
James runs a podcast called “The James Altucher Show” where he invites guests and talks about their life experiences for the benefit of his listeners.
He has had guests like Pieter Thiel, Arianna Huffington, Tony Robbins, Mark Cuban, and Coolio. He has had over 30 million downloads.
James Altucher is an investment guru and he writes about the markets sharing recommendations with his readers of investment opportunities he feels they should consider going for.
He publishes his work via Three Founders Publishing. His financial advisory services include James Altucher’s Early-Stage Crypto Investor, The Choose Yourself Guide to Self Publishing, Altucher’s Weekly AlphaBrain Alert, Altucher’s Angels, Secret Income, Top 1% Advisory, Altucher’s Investment Network, and Altucher’s Investment Network Pro.
He is also founder and publisher of Choose Yourself Financial.
James Altucher’s Predictions
In an article he wrote on his blog titled My Predictions for the Year 2084, James talked about how he thinks things will unfold in the financial and technological sectors in the next few years.
I will revisit that blog for much of what I write here but will seek other sources for inspiration to get a more holistic take of his predictions.
In 2017, James Altucher was interviewed on CNBC and he made a series of proclamations about the futures of Bitcoin and the crypto currency market as a whole.
Altucher’s opinion was that society has made major changes to its currency many times before going back to when gold was a transactional currency before paper money replaced it.
He feels that bitcoin and other cryptocurrencies will replace paper money as a transactional currency.
He says that Bitcoin solves the issue of forgery, infinite money printing, anonymity, and double-spending. As a big believer in digital currencies, he said that he already owns a number of them.
He then predicted that due to a demand-supply imbalance, Bitcoin will top $1,000,000 per coin.
“There’s $200 billion in cryptocurrencies out there and over $200 trillion in demand for money — that’s the amount of paper currency and gold bullion in the world,” he said.
His 10 predictions for cryptocurrencies in 2017 were:
- He predicted More companies to start to pay freelancers triggering calls for tax reform. He predicted greater regressive sales taxes that would ultimately require government cuts and eventually less power for national governments. He referred to this as a long-term prediction.
- He saw a new government organization being created to analyze regulation that would cause a huge upswing in bitcoin and coins that provide actual utility.
- He predicted thousands of crypto companies being created and going public, but only a few achieving massive successes.
- He predicted crypto will destroy the monopoly of government-backed money the same way the internet changed the monopolistic phone industry,
- A country’s currency would fail — likely Argentina or Venezuela. This would trigger the mass adoption of bitcoin by that country, which would in turn lead to bitcoin rising by more than $50,000.
- Mainstream banks would now accept bitcoin and offer storage and software access. He also expected them to create cryptocurrency derivatives.
- China would invest heavily in a crypto but probably not bitcoin because it would want one under its centralized control. This would provide legitimacy to cryptos.
- He expected a basecoin to be brought in to dramatically reduce the one big problem with cryptocurrencies: volatility.
- He also foresaw a massive wipeout that could happen within the next four-six months where more than 95 percent of the alt-coins out there would be decimated, akin to the dot-com bust and tech stocks. The surviving coins would then appreciate significantly.
- He claimed that the U.S. government would secretly start accumulating one of the smaller cryptocurrencies to allow gray-area transactions with other countries. He alleged that it had started happening.
Altucher also warned that 98 percent of cryptocurrencies would be non-starters but bitcoin and a few others will endure.
Predictions about 5G
Over the past three years, investment analysts have been focusing a lot on the advent of 5G as we transition from 4G. We’ve examined presentations from the likes of George Gilder and Dave Forest that have gone in depth about 5G stocks.
Concerning 5G, James Altucher was writing about how we go up a “g” almost every two years and upping bandwidth at an exponential rate.
In his recent predictions blog article, he joked about how in 2084 “we’ll look back at 2020 and laugh about how slow the internet was and how Zoom calls were so low quality and how you actually had to ‘sign up’ for bandwidth as opposed to it being a natural right, an important commodity of air itself.”
But all joking aside, he expects the internet to get exponentially faster over the coming years. He hasn’t made any stock recommendations of note that will be involved in that.
Augmented Reality Predictions
James expects augmented reality to be so advanced, it operates in tandem with actual reality.
He says that this will be as a result of an increase in bandwidth, storage, and user interfaces as these technologies will band together to make augmented reality much better than it is. This reminds me of SCG another technology pitch which is one of Jeff Brown’s predictions.
He predicts the collapse of the US currency
Altucher goes a bit drastic with this because he envisions a world where the US currency, the world’s reserve currency, will collapse.
He is more grounded in this aspect because he doesn’t see a future where the US dollar is not the world’s most important currency. His tweet reads:
“US has the advantage in that they borrow in dollars they control. So far, this has worked. Of course, it will work until it doesn’t. – But let me ask: what OTHER currency will people invest in? Euros? The Euro won’t be here 5 years from now! The yuan? Good luck! What else?”
The decline he expects will be because he sees a future where cryptocurrencies become more accepted as money.
That, according to him, will cause a fall in demand for the greenback and a subsequent drop in value.
Cloud Storage Predictions
James anticipates a future where storage will be faster, more secure, and in larger quantities. There will be greater demand because of applications like VR and blockchain technology applications like crypto.
As a result, the biggest companies in the world will be Amazon, Google, Dropbox, and Apple. These companies will be providing and upkeeping cloud storage and security for data.
Predictions on DNA Computing and Quantum Computing
James says that DNA computing will allow security bleaches whereby crypto keys will be decoded and coins stolen. He doesn’t see quantum computing working out but he expects quantum cryptography to patch things up security-wise.
IOT and “Auto Ecommerce” Predictions
According to James everything will have a computer chip. This will create a world where all data is tracked. At the same time, he thinks devices will be intelligent enough (thanks to their chips) that they will carry out transactions on people’s behalf.
Closing Statement on James Altucher’s Prediction
James sees the world adapting to crypto since there will be financial collapse caused by a collapse in debt as well as a collapse in society.
He claims that boundaries will shift and countries will collapse. In the US, he expects fascism and laissez-faire attitudes to be enacted depending on the state one is in (he says that the union will not endure). Concerning advancements, he says that 3D genomics, VR, acommerce, and crypto will be things we won’t imagine living without.
He says that some people will choose to permanently live in VRs with machines preventing them from muscle atrophy. In those settings, people’s “geographic footprint” will diminish thus enabling more people to inhabit the planet. He says that many artificial worlds will be created (metaverses) to handle the burgeoning population.
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David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.