Quote from: Jds1990 on January 10, 2022, 03:48:36 PM

I have been reading a few articles online saying how it is possible for Bitcoin to reach $1,000,000 in years to come.

Is this possible? If so how likely is it to happen and how far down the line are we talking? 2025? 2030?

I want to start investing in Bitcoin for the long term so would be happy if it even reaches $500,000.

Believe or not, the long term target for bitcoin is $1 billion but we could not define a time frame like for example, the pandemic situations dragged down bitcoin from having 10x growth within last December 2021. So, we need to consider lots of factors on determining the time frame but it got all the potential to scale $1m, $500m and then $1B. Roughly for one million, we may take 4 to 8 years and for one billion we may take another 10 to 20 years.

How $1B/bitcoin will be possible:
1. 90% of financial institutions are expected to have bitcoin in their portfolio.
2. 60% world's top rich people are expected to become bitcoin investors (not just crypto investors).
3. 50% of counties will have bitcoin as part of their federal reserve along with gold.
4. 40% of world population will become a long term bitcoin investors.