If you do the math you will realize that to reach that price Bitcoin should double the capitalization of gold which is 12 trillion dollars (24 trillions for Bitcoin to reach 1 million) and therefore is the asset with the highest market capitalization, we all want and deep down we have an intuition that Bitcoin can increase a lot in price, but for now 1 million per coin is too crazy.
It's more than crazy because the dangers it's going to pose to the financial sector will now be too overwhelming. Governments have been fight Bitcoin and cryptocurrency generally tooth and nails as it is now, imagine what will happen when Bitcoin is at $1 Million per coin? It will be total madness.
It is speculative to predict the price of Bitcoin, but $1,000,000 per coin would require significant adoption and investment. If it continues to gain general acceptability and scarcity is maintained as a crucial component, it is theoretically feasible in the long run.
Theoretically, everything is possible with cryptocurrency but practically, it's so much the same. My assessment is that Bitcoin or cryptocurrencies generally will never be accepted globally. Cryptocurrency enthusiasts need to accept it because cryptocurrency scares the hell out of so many people.
Well, I just think the opposite. I believe sooner or later, cryptocurrencies will be accepted by all countries around the world, with a few exceptions. Accepting crypto is not the same as using crypto as a legal tender. Crypto might not be used as legal tender by many countries but I believe countries will use crypto for international trade (because sending fund is cheaper and faster) as well as a reserve currency.
I'm looking forward to this day too because it will give cryptocurrency more power and the investor who stood by it will be there to enjoy the rest of the good benefits. If there haven't been too war against cryptocurrency for years, it would have been closer to our expectations.
if all countries accepted Bitcoin it could reach that price, but remember that all countries accept gold and has 12 trillion dollars as market capitalization, and if you do the mathematics Bitcoin needs a capitalization of about 24 trillion dollars to get to 1 million dollars per Bitcoin, so even then, there's a chance it didn't reach that milestone.
Well, we are only talking about the price per coin, we are not talking about the time period.
If something that was zero in 2009 can become $68K in 12 years, we can expect Bitcoin to have 24 trillion dollars market cap in 20-30 years.
Well, we are only talking about the price per coin, we are not talking about the time period.
. Everyone would even want to look past just checking how Bitcoin turned out but also look into how their lives turned out .
Yes, I know that is not possible to happen, it was just a hypothetical situation posed where if that happened, it would still have been very difficult for bitcoin to reach 1 million dollars per coin.
Personally, I do not rule out that this milestone could occur in the coming decades, but bitcoin would have to be considered as a reserve of value and would have to have captured the attention of all types of investors and institutions, there may be enough cycles left for that to happen, since the market capitalization needed for that to happen is too high.
