Cathy Wood of ARK Invest has a price target of $1 million on Bitcoin by 2030.
In this video I discuss how this target can be hit and the different components that go into it. We could see Bitcoin take on characteristics that can make it appealing to many different entities.
▶️ 3Speak
I've been saying this for a while: http://satoshibitcoinconverter.crrdlx.websavvy.work/satoshiday.htm I still feel as though it'll happen eventually.
Except the idea of Bitcoin as the everyday medium exchange will not happen. In fact, it will be impossible since it is inelastic.
Without money equilibrium, it cannot fill that role.
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You mentioned the important points.
I firmly believe that Bitcoin will reach $1 million. This could even happen before 2030.
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It could. There is no doubt that adoption is starting to take place. This is all expanding well.
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With a continuous development of Bitcoin and new adaptations to the world economy that will surely come in the future, that goal of $1 Million can be reached, since we all imagine that it will be the currency of the coming years.
I dont think there will be just one currency in coming years. That are going to be a lot of things we do with it and many different ones will be used.
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But still btc and even eth will be the main ones mostly used as store of value which in long term will see a natural healthy grow in price.
That is the case right now. It might not be the case in the future. Ethereum has a varied future ahead of it. We do not know where this will fall exactly.
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Could bitcoin be $1 million? Yes, maybe. But that doesn't mean bitcoin will be the only cryptocurrency. Nor does it show that it is the best cryptocurrency. There are hundreds of better coins than Bitcoin. I think Bitcoin is valuable because it is the first?
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Depends upon what metrics you mean to reach better. There are many tokens that have a larger possibility for Alpha. Others are better for transactions.
However at this point, I am not sure anything is better for store of value even though it is pretty poor overall.
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I think the ability to trust BTC due to the blockchain and the liquidity issue is a good reason why it can be good collateral. At least, I think BTC can only become more appealing as the marketcap increases because the liquidity should also go up.
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Unless so much of it gets locked up that it gets more volatile.
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That means in the next 7 years. No @taskmaster4450le , I'm not against the crypto industry or BTC but not in the next 7 years, in my opinion. Adoption is okay, but it has to take decades to reach 1 mn.
Though I feel, it will cross 150 k by then. That is for sure.
Hard to time so you could be right. Of course, so could she.
Stock-to-flow model has it at a million by 2030 for what that is worth.
Hard to forecast markets. We will just have to see how quickly things move.
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I have an estimate for Cathy Wood, however I find it hard to believe that Bitcoin can reach 1 million dollars. Instead, I believe that many Alt Coins will be used as a real means of payment, and those will have a strong price increase.
That is true and I agree with that. However, that doesnt really take away from Bitcoin. It is not a widely used payment system now so it isnt as if it is going to lose market share.
The key with Bitcoin is can it become used as collateral. If so, it will find its way onto many balance sheets.
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That's in the far future as nite, there's every tendency in the number $1 million.