Despite many optimistic investors, I do not think bitcoin will be reaching $1 million any time soon though I do have confidence that it will at some point. Just probably not tomorrow. Still, I like to think about what could happen if this does happen. What would the world look like with bitcoin as its leading currency?
Who would have thought $100K could be touched within 16 years since its launch, everyone clearly at that time did not have the belief that they would see $100K. Well, the same thing now $1 Million seems impossible and far to achieve but then again no one could have thought maybe we can't see it but our descendants will definitely experience it and at that time Bitcoin was definitely the leading currency used in the world.
I don't see anyone saying bitcoin will never reach $1 million, what I see is that the community currently has two different lines of thought. Some people think bitcoin will hit $1 million within the next 1 or 2 cycles , while others think it won't happen anytime soon and could take decades or won't happen in our generation. That's what people are arguing about .
But bitcoin hitting $1 million won't make it the most used currency in the world . For bitcoin to do that , it just needs to be legalized and backed by governments . But I doubt any government would fully support that, a currency they don't control .