Topic: The BTC to $1M thread - page 3. (Read 1155 times)

I've been thinking about opening this thread for a while now and I finally decided because I think it is now abundantly clear that this is not a question of whether the price will reach $1M, but when it will.

The first one that I can remember who said it with public resonance was the one who said that if the price didn't reach $1M by the end of 2020 he would eat his dick on national TV. Then we know how it turned out. I don't know if those of you who have been on the forum and in the bitcoin world longer remember any public figure or anyone on the forum talking about that possibility before McAfee. If so, say so and I'll post it in the OP.


In any case, after a disappointing 2020-24 cycle in terms of returns, where we started to talk about institutional adoption but it was much lower than expected, now it seems that institutional adoption is really starting. Michael Saylor is buying bitcoins for MSTR as if there is no tomorrow, the US president-elect promised to create a bitcoin reserve with the ones they already had but the Cynthia Lummis proposal to build up the reserve by buying bitcoin, up to 1 million in 5 years, has quite a few signs of becoming a reality, as there are 269 congressmen and senators in the US who are pro-crypto. Not only that, the US president-elect's appointments so far to his cabinet are mostly pro-bitcoin, people who have publicly stated that they have bitcoin holdings.

All of this we already know can unleash, and is already unleashing, institutional FOMO, leading to supply shock. This has led prominent figures such as Adam Back, creator of Hashcash and quoted in the White Paper, to say that if the strategic reserve goes ahead we should prepare for a 7 figure bitcoin this cycle. There are other characters, perhaps not as relevant but with public influence, who are in the same line, such as Samson Mow.

In any case as of today $1M per bitcoin no longer seems crazy, it no longer seems so far away, and I am creating this thread for us bitcointalkers to share experiences along the way.

I don't have any predictions or thoughts on when bitcoin will hit $1 million because that's too hard but I agree with you that it won't be easy to get there. 10x growth from now on is not as easy as before because bitcoin's market capitalization has reached trillions of dollars, and trillions of dollars is a very big number, not as small as people think.
I am surprised that people still apply exponential growth model to bitcoin and expect it to give them x5, x10 profit in just 3 to 5 years. This can easily be applied to small cap assets but with assets that have become huge like bitcoin, we cannot apply it. People are getting a bit delusional and setting their expectations too high and unrealistic.

I am sorry but it is this small minded thinking that holds people back.

1million a btc is not the goal here.

1 dollar a sat by 2030 is the goal.

open your mind to that as our reality.

I'm sure... when the price of bitcoin reaches $200K all investors will be excited they may release their ownership in part or all... then to $500K will certainly be even more excited, right?

But I'm sure there must be a true holder to hold up to $1M.

Although it came later than McAfee's (rest in peace) crazy prediction, I think PlanB's Stock-to-Flow model was one of the first I remember seeing to hint at a potential $1 million Bitcoin. While I don't think he specifically mentioned a $1 million price target, his model definitely suggested that Bitcoin could reach that kind of crazy number during this bull cycle, before the next halving. It was pretty exciting to see the potential!

My question is how many people can hold bitcoin until the price hits $1 million? Because the road to $100k is really bumpy and we're not even there yet but many people are already selling their bitcoins. Bitcoin is not growing vertically and the road to $1 million is much more thorny and challenging, can we persevere until then? I doubt it. Maybe everyone believes that bitcoin will reach 1 million dollars in the future, but the problem is that no one will wait until then because life has many things to worry about and does not allow us to do that.