How High Can Bitcoin Go? Why I Say A $1,000,000 BTC Is Possible
Scarcity creates value, or so the saying goes. And with tons of other competing Alt Coins and the market for Cryptocurrency constantly growing, I think that with Bitcoin being the original coin, that it will most definitely be able to beat out all the other coins in terms of price, market cap and value. The major reason I think that Bitcoin will hit $1,000,000 per coin at some point, is that there are only 21,000,000 coins that will ever be in existence. Assuming that Crypto, or Bitcoin, will one day reach a market cap of 21,000,000,000,000$, then it is very possible that this number is accurate. And yes, I am aware that this is the current value of the DOW Jones Industrial average, but 50 to 100 years from now, this number could definitely be realistic.
In the year 2060, other Alt Coins also have been in the same range. Ethereum could have a market cap of $10,000,000,000,000.00, Ripple of $5,000,000,000,000.00, and other Alt Coins, even once coins that were never taken seriously like Dogecoin, could surpass a $1 Trillion Dollar Market Cap.
The way that I would recommend getting Crypto exposure is probably buying and holding a Bitcoin ETF and probably putting this as something like 10% of your portfolio in your IRA so you can get tax advantaged gains, and to buy and hold this position over the long run. My presumption over the long run, factoring in my 30–40-year BTC price target of $1,000,000.00, is that Bitcoin will grow at an average annual return of 20%, which should give you a significant advantage over basic SPY market appreciation.
Some top index funds that you can use to get Crypto Currency Exposure include the following:
GBTC Bitcoin Investment Trust
Coinbase, Yes the Recent IPO, It is very heavily correlated with the price of Bitcoin
Proshares Bitcoin Strategy ETF
Grayscale Bitcoin Trust
Bitwise 10 Crypto Index Fund
Valkyrie Bitcoin Strategy ETF
And a host of other Cryptocurrency funds. For more details and information on all things Crypto, read on or subscribe to our blog for additional details and information!
How High Can Bitcoin Go? My Price Projections For The Next 30 Years
My price projections for Bitcoin for the next 30 years are somewhat Bullish, but I do believe that they will eventually add up to the price of the coin being $1,000,000 by the year 2050. Here are my predictions year over year. By December 31st of each year:
2022 – $40,000
2023 – $45,000
2024 – $75,000
2025 – $70,000
2026 – $100,000
2027 – $150,000
2028 – $175,000
2030 – $225,000
2031 – $220,000
2032 – $250,000
What Is the Current Market Cap of Bitcoin?
The current market cap of Bitcoin is about $844,000,000,000.00, or $844 Billion. With the math of tokens maxing out at 21,000,000, it would appear that a $1,000,000 per coin valuation would leave us with a $21 Trillion market cap for Bitcoin. Which again, in the year 2050, makes it seem not quite as crazy. This is a 3400% increase from the current value of the coin and would entail it rising an average of 25% or so each year for the next 28 years. Heck of a return, and I think this is probably the only asset that can hit this.
Why Bitcoin Is a Junk Bond, And It Could Crash Just As Easily As It Could Rise
With this being said, if I jumped in a time machine and saw Bitcoin trading at like $23.25 per coin in the year 2050, it wouldn’t surprise me that much at all. This thing is backed by no fundamentals, and it is essentially the equivalent of you betting on the French nickel, you are speculating on a digital currency that could very likely be taken down by enough Government intervention, or replaced with something far more regulated. In the end, only time will tell where this leads us.
Final Thoughts On How High Can Bitcoin Go, My Total Opinion
And that’s my take on how high Bitcoin can go. What do you think of this Crypto behemoth? Read on or comment down below and let us know what you think.
Disclaimer: The opinions and documentation contained within this article and on this blog are the sole property of inflationhedging.com and are not to be copyrighted or reproduced in any manner, else legal action within the rights of the United States legal code could be use to obtain recompense. All articles and blog posts are the sole opinions of the writers of the blog, and are not necessarily in line with what exactly will work for you, you should consult a CPA, Tax Professional, or Financial Professional to determine what exact financial needs are in line with your interests. Also, from time to time, certain links on this website will be used to generate affiliate commissions, in order to support the health and growth of our website, health and business.
[…] Previous What Is Changing Jobs In Wealth Management Like? […]