Bitcoin Price to Hit $1 Million Soon? Here’s Why Everyone Is Convinced

Bitcoin is closer than ever to cementing its status as a global store of value, with its price nearing the $100,000 mark. Crypto trader and investor VirtualBacon has an even bolder prediction: Bitcoin could reach $1 million per coin within the next decade.

Is this realistic? Let’s see how this could happen.

Can Bitcoin still make you rich?

Over the past month, Bitcoin’s price has surged by 40%, reaching a new all-time high of $93,400. This sharp rise is partly credited to Donald Trump’s election victory, accompanied by his vow to make the U.S. a leader in the crypto space. Many experts now anticipate Bitcoin will cross the $100,000 threshold by the end of November.

VirtualBacon sees even greater potential, predicting that Bitcoin could hit $200,000 soon. However, he emphasizes that the real value lies in Bitcoin’s long-term growth, forecasting a price of $1 million within the next 10 years.

Bitcoin’s fixed supply of 21 million coins, scarcity, and growing adoption globally are key drivers of its potential. These traits set Bitcoin apart from traditional assets like stocks, gold, and real estate.

As an inflation-resistant asset, Bitcoin’s value could increase significantly as more institutions and individuals include it in their portfolios.

Institutional Interest Boosts Price

The increasing involvement of institutional investors is a major factor behind Bitcoin’s future growth. Bitcoin ETFs have already attracted substantial investments, and companies like Microsoft are reportedly exploring Bitcoin as part of their treasury reserves.

VirtualBacon explains that if Bitcoin’s share of global wealth grows from its current 0.35% to just 3%, its market capitalization could reach $20 trillion. This would drive the price to $1 million per coin.

Competing with Gold

Bitcoin doesn’t need to overtake gold entirely to reach this milestone. VirtualBacon notes that if Bitcoin captures just 57% of gold’s future market value by 2034, it could still achieve a $20 trillion market cap, resulting in a $1 million price tag.

This growth would be supported by Bitcoin’s rising adoption and its built-in resistance to inflation, rather than relying on speculative hype.

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Let’s Do the Math

Bitcoin’s future is about more than short-term gains. Its role as “digital gold” is becoming more evident as more institutions and investors turn to it as a hedge against inflation. VirtualBacon predicts that Bitcoin could deliver 5-10x returns over the next decade as its adoption accelerates.

A million-dollar Bitcoin isn’t about if—it’s about when.