Despite Bitcoin’s current market slump, some industry leaders are optimistic that the world’s top cryptocurrency, driven by institutional adoption, regulatory change and inflationary pressures, could rebound and ultimately reach $2 million.
“The Bitcoin trajectory has consistently ignored expectations, and by 2030, the $2 million price is an aggressive target, but not outside the realm of possibilities,” Dr. Erman Megherian, CEO of the Bitcoin Investment Platform, told ThestReet Crypto.
Advocates argue that price will likely increase more and more with Bitcoin’s role as a global store of value, increasing US regulatory clarity.
Jagdeep Sidhu, president of the Syscoin Foundation, expects Bitcoin to be the backbone of global finance.
Institutional bets on Bitcoin
“Bitcoin’s potential path to $2 million by 2030 is driven by positive regulatory changes, institutional adoption and its track record as one of the best performing assets of the past decade,” Coinflip CEO Ben Weiss tells ThestReet Crypto. “Bitcoin is becoming a mainstream investment as Spot ETFs (Exchange-Traded Funds) unlocks shifting towards regulations surrounding new capital and restrictions.”
Major financial institutions have steadily expanded their exposure to Bitcoin over the past year. Last year’s approval of the Spot Bitcoin ETF was led by companies such as BlackRock and Fidelity to mobilize new capital into the market.
“As inflation has eroded the value of the dollar over time, price levels that seem immeasurable today may one day be inevitable,” says Justin Barlow, Head of Business Development and Investment at the SEI Foundation.
If Bitcoin captures even a small portion of gold’s market capitalization, seven-figure prices could be strong in the future, according to some industry observers.
“Bitcoin as digital gold could reach gold’s market capitalization within the next 10 years,” says Youwe Yang, chief economist at Bit Mining.
“Core Bitcoin is about rarity,” Chris Klein, co-founder of Bitcoinila, tells Thestreet Crypto. “There are only 21 million (Bitcoin) and 19.5 million have already been explained. Given the extreme relative shortages for Fiat Money and the challenges for nation-states struggling with financial expansion, $2 million Bitcoin is not quirky.”
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