Bitcoin's Journey to $1M Relies on Scarcity, Adoption, and Market Dynamics, Not Magic

Bitcoin ETF inflows and treasury adoption push institutional confidence and price growth. Reaching 3% of global wealth could propel Bitcoin's market cap to $20 trillion.

Bitcoin price has surged almost 40% in the past month, reaching a new all-time high of $93,400. The recent surge in Bitcoin price is largely attributed to the pro-crypto stance of Donald Trump, who has vowed to make the United States the "crypto capital." Many experts now believe that Bitcoin will hit $100,000 before the end of November.

However, one crypto trader and investor believes that Bitcoin is capable of reaching much greater heights. According to VirtualBacon, Bitcoin could hit $1 million in the next 10 years. But how exactly is this possible?

Well, if you’re thinking that holding 1 BTC will be enough to make you a millionaire by the end of this bull cycle, you might be disappointed. At the current price, you’ll need to hold 10 BTC to become a millionaire if Bitcoin price peaks at $200K.

But VirtualBacon has his sights set on a different prize. He believes that for Bitcoin to reach $1 million, we need to be looking at 10-year horizons.

Here’s why the popular crypto trader thinks Bitcoin can hit $1 million.

Bitcoin Is Not Stocks, Gold, Or Real Estate

Unlike traditional assets such as stocks, gold, or real estate, Bitcoin offers the potential for much greater growth. With a fixed supply of 21 million coins and its status as a non-inflationary asset, Bitcoin is uniquely positioned to become the world’s digital gold.

If institutions and individuals continue to allocate a portion of their portfolios to Bitcoin as a store of value, the price will naturally rise.

Institutions are now piling into Bitcoin at an unprecedented pace. Bitcoin ETFs have already seen massive inflows, and companies like Microsoft are considering adding Bitcoin to their treasury.

If Bitcoin’s share of global wealth grows from the current 0.35% to just 3%, its market cap will be $20 trillion, pushing the price to $1 million per coin.

The Math For $1 Million Bitcoin

According to VirtualBacon, Bitcoin doesn’t even need to overtake gold to reach $1 million. If Bitcoin captures 57% of gold’s future market value by 2034, Bitcoin’s market cap will be $20 trillion, and the price will be $1 million.

This is a realistic outcome and will be a result of steady adoption and Bitcoin’s anti-inflationary properties. Bitcoin is not about quick profits; it’s about long-term growth.

As more institutions continue to invest in Bitcoin, its role as “digital gold” will be cemented, setting the stage for 5-10x gains over the next decade.

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