2017 was when retail users adopted Bitcoin. Institutions are governments were against it. Bitcoin moved from $1K to $20K
2020/21 is when institutions are adopting Bitcoin. If 10% of cash held by Fortune 500 gets converted to BTC, it's price will be $300K.
And in the next cycle, in 2024/25, governments will realize the importance of Bitcoin. Central bank reserves will have bitcoins in it. This is when we will hit $1M.
2020/21 is when institutions are adopting Bitcoin. If 10% of cash held by Fortune 500 gets converted to BTC, it's price will be $300K.
And in the next cycle, in 2024/25, governments will realize the importance of Bitcoin. Central bank reserves will have bitcoins in it. This is when we will hit $1M.
Let's not get ahead of ourselves. Bitcoin reaching $1M within 4 years from now is totally insane. For Bitcoin to reach such prices, there needs to be widespread adoption in the mainstream world. While Tesla, PayPal, and Mastercard have joined the game, there's still a long road ahead before Bitcoin becomes a multi-million dollar cryptocurrency.
A more realistic target for 2025 would be $200k - $300k per coin. Everything will depend on how long the current bull market will last, followed by a market correction. Bitcoin could head back to $20k in the short term, while it bounces back to $50k and above. Of course, there's no telling how much Bitcoin will be worth in the future. Everything is just speculation. If Bitcoin hits $1M early, I'm sure many early adopters (like myself) will become filthy rich. By then, Bitcoin would've surpassed Gold as the best store of value in the world. Governments and central banks are noticing the benefits of Bitcoin's blockchain technology. It shouldn't be long enough before crypto becomes recognized as a legitimate asset class within many countries around the world. In the meantime, let's just focus on the upcoming ATH (hopefully) of $100k per coin. Just my opinion
