From $0 to $1M—The Dual Narrative Explained

Veteran trader Peter Brandt calls bitcoin a “store of value” or “worthless,” emphasizing adaptability in projections while dismissing price targets as “mostly worthless” talking points.

Peter Brandt’s Binary Bitcoin Playbook: Risk, Reward, and Radical Projections

Veteran trader Peter Brandt has outlined his dynamic approach to bitcoin, reflecting on its potential future while emphasizing flexibility in decision-making. In a post on social media platform X Monday, Brandt shared his views shaped by a Bayesian framework.

“I am a Bayesian. As a Bayesian, when circumstances and information change, I change my opinion,” he explained, elaborating:

In bitcoin I have always had two binary narratives playing in my mind. One narrative calls for bitcoin to become worthless. One narrative calls for bitcoin to become the world standard for ‘store of value’ forever and go to $100K (we are there), $250K, $500K, $1MM, you name it.

“As conditions and info change, I change my viewpoint in 20% increments from +100% to no opinion to -100%,” he added.

Brandt also took aim at the fixation on price targets commonly seen in cryptocurrency discussions. He dismissed them as largely meaningless, asserting that such predictions lack real value. The veteran trader detailed:

The price targets projected by people on social media mean absolutely nothing. Price targets are talking points, mostly worthless. I view price targets and even market opinions and projections as simply possibilities.

“The projection of an individual trade or investment should always be viewed as a possibility—not a probability and never a certainty,” he continued. His remarks reflect a pragmatic approach to trading, prioritizing adaptability over rigid forecasts.

On a broader level, Brandt highlighted bitcoin’s ideological significance, describing it as more than just an asset. “Bitcoin (BTC) is the ultimate form of free speech and democracy,” he declared, reinforcing the notion that cryptocurrencies represent a form of financial freedom and self-sovereignty.