Bitcoin’s Road To $1 Million Isn’t Majic But Realistic But a Logical Progression
As the price of Bitcoin approaches $100,000, Bitcoin’s journey to become a true store of value has renewed interest. According to prominent cryptocurrency trader and investor VirtualBacon, the potential for cryptocurrencies to reach $1 million per coin within the next decade is not only a dream, but a logical progression. But how did this happen?
Can Bitcoin Still Make You Rich?
Yes, of course, but the journey to $1 million is not magical, it is backed by math and market trends.
Since the past month, the price of Bitcoin has surged by nearly 40% to $93,400, driven by the recent victory of Donald Trump, who said he would make the United States the cryptocurrency capital. Many experts believe that Bitcoin will soon reach $100,000 by the end of November.
Meanwhile, VirtualBacon further hinted that Bitcoin could hit $200,000 soon, but that won’t make you a millionaire. The real opportunity lies in the long term, with Bitcoin expected to reach $1 million within the next 10 years.
This may occur because of Bitcoin’s unique characteristics, such as its fixed supply, scarcity, and growing adoption worldwide.
Why do traders believe Bitcoin can hit $1 million?
Unlike stocks, gold or real estate, Bitcoin offers unparalleled growth potential. Its fixed supply of 21 million coins and its ability to resist 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 part of their portfolios to Bitcoin, the price could easily rise.
A key factor in Bitcoin’s hopes of breaking $1 million is growing institutional adoption. Bitcoin ETFs have seen significant inflows, with companies like Microsoft considering holding Bitcoin as part of their vaults.
VirtualBacon notes that if Bitcoin’s share of global wealth grows from the current 0.35% to 3%, its market capitalization could surge to $20 trillion, pushing the price of each Bitcoin to $1 million.
The math behind $1 million
VirtualBacon believes that Bitcoin does not need to surpass gold to reach $1 million. If Bitcoin accounts for only 57% of gold’s future market value by 2034, its market value could reach $20 trillion, pushing its price to $1 million.
This is a realistic outcome, driven by stable adoption and Bitcoin’s anti-inflation capabilities. Bitcoin is not for quick profits, but for long-term growth.
As more and more institutions invest, Bitcoin’s role as “digital gold” becomes even more powerful, bringing 5-10 times returns in the next ten years.
