The Future of Bitcoin – Can It Reach $1 Million?
In just 12 years of its existence, Bitcoin has already hit the 1 trillion market capitalization. Having risen in value more than 10 fold since 2020, it remains to be seen whether Bitcoin's undisputed rally will continue to a point where one Bitcoin is worth $1 million.
One particular investor and analyst, Ollie Leech, believes that the coin is likely to hit $1 million in the next five years. According to Leech, the next big rally that will push Bitcoin to $1 million is likely to happen in 2024.
Former Gold Man Sachs hedge fund manager Raoul Paul who predicted the financial crisis of 2008, wrote in his paper predicting the use of Bitcoin as a haven during the covid-19 pandemic.
Alex Mashinky, CEO of Celsius, believes that while it is hard to predict the future of Bitcoin accurately, the asset shows fundamental strength enough to stretch its value beyond $200K by 2025. Zac Prince, the CEO of Block, believes that Bitcoin will surpass $200K in the next 4 years considering the deflationary halving event. In 2019, Prince predicted that Bitcoin will hit an all-time high of $60,000 per coin.
2030 Price Predictions
By the end of the decade, the majority of Bitcoin will have been mined. Anthony Pompliano, the co-founder of Morgan Creek Digital Assets, estimated that Bitcoin will eventually hit a $1 million mark; however, he does not give a specific timeline. The Bitcoin evangelist predicted that Bitcoin will hit $100,000 by the end of 2021.
Another outrageous BTC price prediction is from a major Tesla investor who estimates that Bitcoin will be worth more than $1trillion in under ten years.
2040 Price Prediction
In 2030 and beyond, market analysts believe that Bitcoin's price will be further up ahead. Because of the currency's rising value, market analysts predict that Bitcoin could be worth between 1 and 10 million USD.
If Michael Saylor's opinion is anything to go by, Bitcoin's market capitalization will hit an all-time high of $200 trillion by 2050. The billionaire investor spoke while on a conference call on YouTube, saying the long-term value of Bitcoin is greater than any other asset class in the world.