Post
Topic
Board Speculation
Re: Will BTC hit 1M ?
by
fuguebtc
on 29/02/2024, 15:38:36 UTC
Bitcoin rose from under $1 to $69k without any approval or legal tender from the government. So on what basis do you think that whether bitcoin reaches 1 million USD or not depends on the government? Governments are indeed the biggest barrier slowing the spread of bitcoin, but they are not the main factor or catalyst that helps bitcoin value increase. Bitcoin once rose to $69k from zero without the government, it will be able to do it again to reach $1 million without government help. If bitcoin receives support from the government, it will help bitcoin reach $1 million faster, but if not, bitcoin reaching $1 million will still happen over time.
Bitcoin reaching one million per coin will happen at some point on the future, what we do not really know is when it will happen and the circumstances surround it at the time.

Besides while reaching such a milestone will be important, just as reaching five figures was during the 2017 bull run, at the same we must not content ourselves with bitcoin just reaching the price level, as I think it is way more important for bitcoin to remain above that level, and that will take longer than just reaching it.

If demand for bitcoin increases steadily, it is only a matter of time before it reaches $1 million, and it is normal for it to remain above $1 million or higher as long as demand for it remains . But what I want to say here is that I disagree when he says that whether bitcoin reaches 1 million USD or not depends on the government . That's not entirely true, the value of bitcoin will depend on our demand and the government cannot stop the demand for bitcoin. If they could stop bitcoin, they would have done it a long time ago, not wait until now .