The post Bitcoin’s Road To $1 Million Isn’t Majic But a Logical Progression appeared first on Coinpedia Fintech News
Bitcoin’s journey towards becoming a true store of value is sparking renewed interest as its price nears $100,000. According to well-known crypto trader and investor VirtualBacon, the cryptocurrency’s potential to hit $1 million per coin in the next decade is not just a dream but a logical progression. But how exactly could this happen?
Can Bitcoin still make you rich?
Yes for sure, but the journey to $1 million isn’t magic it’s backed by math and market trends.
Since the past month, Bitcoin price has seen an impressive surge to almost 40% reaching an ATH of $93,400 thanks to the recent victory of Donald Trump who said that he’ll make the US the crypto capital. Many experts believe that Bitcoin will soon hit $100k mainly by end of the November end.
1/x Can Bitcoin still make you rich?
Yes – but the journey to $1M isn’t magic; it’s backed by math and market trends.
With Bitcoin poised to reach $200K this cycle, holding 1 BTC alone won’t make you a millionaire just yet.
To hit $1M, we need to look at 10-year horizons and…
— VirtualBacon
(@VirtualBacon0x) November 18, 2024
Meanwhile, VirtualBacon went further suggesting that bitcoin is already set to hit $200K soon, but this alone won’t make you a millionaire. The real opportunity lies in the long term, with Bitcoin projected to hit $1 million in the next 10 years.
This could happen because of Bitcoin’s unique characteristics, such as its fixed supply, scarcity, and growing adoption worldwide.
Why Does Trader Believe Bitcoin Can Reach $1M?
Unlike stocks, gold, or real estate, Bitcoin offers unparalleled potential for growth. Its fixed supply of 21 million coins and its resistance to inflation make it a strong contender for the role of digital gold.
If Bitcoin continues to gain traction as a store of value and as more institutions and individuals allocate portions of their portfolios to it, the price could easily rise.
A key factor in Bitcoin’s potential to hit $1 million is the increasing institutional adoption. Bitcoin ETFs have already seen massive inflows, and companies like Microsoft are considering holding Bitcoin as part of their treasury.
VirtualBacon points out that if Bitcoin’s share of global wealth grows from its current 0.35% to just 3%, its market cap could surge to $20 trillion, pushing the price to $1 million per coin.
The Math Behind $1 Million
VirtualBacon believes Bitcoin could reach $1 million without needing to overtake gold. If Bitcoin captures just 57% of gold’s future market value by 2034, its market cap could hit $20 trillion, pushing its price to $1 million.
This is a realistic outcome, driven by steady adoption and Bitcoin’s anti-inflation features. Bitcoin isn’t about quick profits, it’s about long-term growth.
As more institutions invest, Bitcoin’s role as “digital gold” becomes stronger, offering 5-10x gains over the next decade.
