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Bitcoin's giant move upward is far from done, according to tech investor and stock picker James Altucher.
According to Altucher, society has made major changes to its currency a few times in history: Gold replaced barter as a transactional currency; paper money replaced gold as a store of value; and bitcoin and other cryptocurrencies are going to replace paper money as a transactional currency.
Each type of currency solved problems of the prior generation of currency, he said in an interview with CNBC. Bitcoin solves the problem of infinite money printing, forgery, double-spending and anonymity, he said. Altucher owns bitcoin, ethereum, litecoin, zcash and filecoin.
Pointing to a demand-supply imbalance, Altucher predicts that 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.
Altucher, founder and publisher of Choose Yourself Financial, a subscription-based financial publication cautions that 98 percent of cryptocurrencies are scams. But bitcoin and a few other cryptocurrencies are here to stay, he believes.
"This is the greatest tectonic shift in money and wealth that we will see in our lifetimes," he said.
Here are his 10 predictions for cryptocurrencies: