Bitcoin
Former Twitter CEO says Bitcoin will reach “at least” $1,000,000 in the next 6 years
Former Twitter CEO Jack Dorsey expresses his optimism regarding Bitcoin, projecting it to surpass the value of $1 million by 2030.
Dorsey conveyed this optimistic sentiment during a recent interview with technology journalist Mike Solana. The former Twitter boss cited the cooperative nature of the Bitcoin community as a significant factor in his bullish projection for the decade.
BTC will reach “at least” $1 million by 2030
During the interview, Mike Solana asked Dorsey to release his 2030 projection for Bitcoin. With a touch of humor, Dorsey responded with uncertainty.
However, he shared his belief that Bitcoin could reach “at least a million” in the next six years. He also suggested that BTC could not only reach this number but also surpass it by 2030.
Furthermore, Dorsey stated that although the price is intriguing, the most notable aspect of Bitcoin is its collaborative nature. He emphasized that the efforts of everyone working with Bitcoin contribute to the improvement of the entire ecosystem. He sees these collaborative efforts as the main driver for higher price targets.
Since stepping down as CEO of Twitter, Dorsey has intensified its focus on Bitcoin. His financial services company, Block, is committing 10% of its Bitcoin-related revenue to future Bitcoin acquisitions.
Notably, the former Twitter CEO is not the only industry commentator anticipating a $1 million BTC price. In particular, his bold prediction echoes the sentiments of other industry experts such as Katie Wood from Ark Invest, financial author Robert Kiyosakiand Michael Saylor of MicroStrategy.
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All These Experts Predict Bitcoin Outperforming the US$1 million mark as more institutional investors treat it as an equivalent of digital gold.
What it means for Bitcoin to reach $1 million
Meanwhile, at press time, Bitcoin trades for $62,387, recording returns of over 121% over the past year. Notably, BTC reached $73,750 two months ago, boosting its valuation to over $1.45 trillion.
At the current market value, the first crypto asset must advance 1,502% over the next six years to reach the US$1 million target. If Bitcoin’s supply remains stable at 19,696,421 coins through 2030, $1 million per BTC puts its valuation at $19,696,421,000,000 (approximately $20 trillion).
As Bitcoin typically represents more than 50% of the total cryptocurrency market value, the global cryptocurrency market could exceed $40 trillion by then.
Notably, by 2030, Bitcoin would have undergone its fifth halving cycle, precisely in 2028, with a bull market expected next year. Generalized projections for the value of Bitcoin in this ongoing season are between $150,000 and $250,000.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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