Hot StoriesHow Bitcoin Will Reach $1 Million: Explained

How Bitcoin Will Reach $1 Million: Explained

How Bitcoin Will Reach $1 Million? Bitcoin continues to rise in value and could reach hundreds of trillions of dollars or over 100 trillion dollars in value. As it demonetized this other store of value that would lead to a bitcoin price measured in millions of dollars per individual bitcoin and I think a lot of people kind of said wow that’s a pretty interesting thesis it’s a pretty bullish thesis and they were drawn to it.

How Bitcoin Will Reach $1 Million? What is your kind of analysis of the progress along that thesis from 2018 to today? So about four years you know three and a half years after you kind of originally laid that out. Do you feel like we’re still moving along kind of that same thesis and generally believe the same thing?

If the odds of it happening in my head were like 30% back then they are like 50% now. So I would say it’s even higher now. Every time bitcoin grows in market cap it effectively symbolizes the amount of attention and the number of eyeballs that are looking at this thing. 

How Bitcoin Will Reach $1 Million, The fact that we went from 5,000 to 69,000 back to 20,000 right now in the last three years has only strengthened the bullet points that I was bringing up three years ago. And the fact that there are so many more participants now the infrastructure is even more mature. The amount of institutions is is even bigger the amount of sort of famous celebrities and financiers and another sort of individuals that are participating and supporting the ecosystem is even greater now. 

Essentially the chances of everything I was talking about in 2018 have only increased since then. Simple as that in my opinion all the bullet points still stand and the eventual market cap measured in today’s dollars is over 100 trillion is completely realistic.

When we see that 100 trillion number it’s a big number what is the expected timeline wise we said the probability of it happening has increased. Do we still keep kind of a multi-decade view from a timing standpoint or has that been pulled forward at all given what we’ve seen transpire over the last three years?

How Bitcoin Will Reach $1 Million and how long it will take? I think to manage the expectations I think somewhere between 10 to 20 years is a realistic possibility, could take a little bit longer and could even happen faster but something to the tune of 15 to 20 years I think is definitely possible. We need to realize that this is like a long-term gain and 400-year-old currency paradigms don’t collapse overnight. So of course it’s going to take time but the fact that there’s the internet right now and the fact that these various technologies are decentralized is gonna make it faster than it would have otherwise happened.

When we look over the last three years there may be many negative surprises kind of the development of bitcoin or the adoption of bitcoin. So bitcoin likes when the central bank prints money and it doesn’t like when they contract the money supply. Now, this the following is going to sound a little bit simplistic but it does seem that bitcoin is even more sensitive to contractions than what than how sensitive it is to expansions.

Related: Bitcoin price will Rise as a Result of Hyperinflation

Now, of course, there are other variables that play like the stock markets sort of collapsing as well and the tech industry also kind of experiencing some downturns but that’s kind of one thing to think about. The other thing to think about is bitcoin has become highly correlated with other sorts of risk assets in people’s portfolios but ultimately I think it was a bit of an inevitability as bitcoin kind of matured into a trillion-dollar asset.

Related: Why you should buy bitcoin: Reason

How Bitcoin Will Reach $1 Million? Now I think we are still in this middle ground where we are going to mimic sort of a leveraged technology stock still for the next several years, but ultimately I still think that bitcoin is first and foremost correlated with kind of the global central bank monetary aggregates and two to be more specific. So if that continues to expand over the medium to long term I believe will bitcoin price will continue going higher in my opinion nevertheless. 

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