According to Herbert Sim “The Bitcoin Man”, the recent bull run doesn't even scratch the surface of what's to come in the crypto market, with China yet to throw its hat into the ring.
The thing is, the Chinese are still preparing. They haven't entered the crypto market yet. I know this firsthand because I am working with all Chinese people,” he says.
“This means that $69,000 is the baseline for bitcoin to start a bull run.”
Sim told the magazine that previous bull runs had all been led by Chinese markets, not the US, even though they “wished” they were leading the pack.
“You have to realize that the real bull runs of the last three years have been driven by the Chinese markets, not the Americans. They wished it was them but of course it was from China.
Sim has been in crypto since 2010 while studying economics at university. He jumped before the “industry” became a thing, back when Bitcoin was worth next to nothing, hitting a peak of just $0.40.
That same year, Sim founded the Crypto research and content aggregator CryptoChain University, which is still used by experts in the industry to upload research papers and educate people about the cypherpunk movement.
“Many contributors just upload articles themselves. There were also a lot of well-known cypherpunks who contributed,” he said.
He's been singing the praises of Bitcoin ever since, and if you've ever been to a crypto conference, you've probably seen him speak as a key authority on Bitcoin chains or in the space.
“Now I'm the one trying to make crypto sexy,” he laughs.
Before entering crypto, Sim found success in the high-end fashion industry, thanks to his company WardrobeTrendsFashion.
“It is the most popular media company in the Asia Pacific. In fact, I won an award from Google and another award for the best lifestyle website in the entire Asia Pacific, including Australia,” he explains.
He was able to sell the company for “millions” but was not so lucky in his next venture.
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He tried to buy a nuclear power plant in Eastern Europe in a scandalous deal that involved shady businessmen and “a lot of corruption”.
It was difficult for Sim as he spent most of the money he made selling WardrobeTrendsFashion.
Luck was on his side, however, he soon received a call from the crypto exchange Huobi to lead operations around the world.
“Suddenly they offered me a lifeline. They wanted to hire me as director of global operations, reporting to the CEO,” he explains.
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ToggleWhat made Twitter famous?
Sim is a little unusual in the crypto industry, because he was already very popular in the world of high-end fashion.
And when he switched, he didn't have to spend tons of money on advertising to quickly build a following.
While his X following is impressive, his Instagram is almost 10 times bigger.
He has 272,700 followers on X, and Instagram is set to reach 2.1 million followers.
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He said that he got into the crypto industry with a blue mark on the X when it was designed for big celebrities, not like it is now.
He was confirmed before Coinbase CEO Brian Armstrong and former Binance CEO Changpeng “CZ” Zhao.
In the year In 2018, Sim saw a huge increase in followers in China after he led Huobi token (HT), Huobi's native crypto project.
“Token raised 400 million in 13 seconds. And because of this, my name as a Bitcoin person became very popular throughout China. So many OGs in China know my name.
What kind of content do you like?
Sim says he always follows what Blockstream CEO Adam Temeles and Ethereum founder Vitalik Buterin are up to.
“So those are two guys that I really follow, and obviously there's Michael Saylor who came in a couple of years ago. He's also following me on Twitter.”
He said he certainly respects Saylor's advocacy for Bitcoin, and the Microstrategy CEO responded with a follow-up, but he's still waiting for Buterin to do the same.
What kind of content do you create?
Sim has been around the block a few times and has seen so many crypto accounts enter the industry lately that he feels his voice is getting a little lost in the crowd.
“You'll see more crypto bros doing the same and my voice is lost until you're a little under the ocean. But that's good because it means Bitcoin is going to explode more,” he says.
His X feed is like an Instagram feed, where he regularly shows people he rubs elbows with.
Predictions?
Unlike most crypto influencers who chop and change their price predictions whenever the weather changes, Sim says he has kept the same bold bitcoin price forecast for the past seven years.
“I've been singing the same tune since 2017 that Bitcoin will hit $1 million by 2030,” Sims says.
With the recent approval of Bitcoin ETFs, Sim is playing his one-time wild card by improving his forecast.
Now, he's thinking of hitting the multi-million dollar mark by 2028.
“So now they're panic selling, good luck to them because when a bull run happens, I'm predicting it. [at] $148,000 will all be left behind,” he added.
He explains that this prediction stems from a strong belief that the Chinese will lead the next bull run. The number 148 is significant in Chinese culture, as it represents a “lifetime of prosperity.”
Sim is not big on throwing wild memecoin predictions. It tends to be more cautious compared to seven-figure bitcoin forecasts.
“It's my official recommendation that people probably look for coins that have been stripped back to basics.”
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Ciaran Lyon
Ciaran Lyons is an Australian crypto journalist. He is also a freelance comedian and has been a radio and TV presenter on Triple J, SBS and The Project.
