"We've heard some pretty outrageous longer-term price targets on Bitcoin ( CRYPTO:BTC) and other cryptocurrencies (think Ethereum) in recent years. And while it seems absurd to envision a single Bitcoin going for $1 million one day, let's just say anything is possible in the wild world of crypto. In any case, Bitcoin goes for just north of $114,000 today, so a run to the million-dollar mark would entail just shy of a 900% rise from current levels."
"In any case, Coinbase ( NASDAQ:COIN) CEO Brian Armstrong is nothing short of upbeat about Bitcoin and its potential over the next five years. While I wouldn't rule out Bitcoin at $1 million in 30 years from now, I do think that the five-year target is a tad aggressive, to say the least. Indeed, I'd imagine that such bullish comments might inspire some to bet the farm on the cryptocurrency, especially on the latest dip."
"As a part of Armstrong's prediction, he thinks that macro tailwinds and increased adoption of Bitcoin as some sort of "digital gold" could help power further gains from here. In any case, Bitcoin would need to really gain momentum if it's to have a chance of reaching the $1 million mark by 2030. And while the target could pan out in a bull-case scenario (it's certainly not outside the realm of possibility,"
Bitcoin trades just north of $114,000, implying about a 900% increase would be required to reach $1 million. Coinbase CEO Brian Armstrong projects Bitcoin could hit $1 million within five years, attributing potential gains to macro tailwinds and growing adoption as a form of digital gold. The five-year target is considered aggressive and could motivate some investors to take outsized positions during market dips. Bitcoin's future price path may align more closely with technology equities such as the Nasdaq 100 rather than traditional safe-haven assets like gold. Vast upside remains plausible in bull scenarios but depends on sustained market momentum and adoption.
Read at 24/7 Wall St.
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