For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?
For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.
Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?
Could it be worth 1 million? Yes. Would it? Almost certainly not. We would need bitcoin to be accepted everywhere worldwide if not being many nations defacto currency. I think the best we could hope for is it being worth several thousands.