Bitcoin Price Outlook: Could It Reach $1 Million in the Future?

As Bitcoin hovers between $90,000 and $95,000, down over 10% from its recent all-time high of over $100,000 level, there is a growing difference between traders, who expect another decline based on technical analysis, and the long-term investors, who believe that the bull run is far from over.

David Siemer, CEO of Wave Digital Assets, which provides asset management services to crypto investors, shared this perspective. Notably, his firm works with high-net-worth individuals and counts Cardano’s CEO Charles Hoskinson Charles Hoskinson Charles Hoskinson is an American entrepreneur and blockchain visionary. He co-founded IOHK, and Cardano (ADA), a blockchain project. He also co-founded the Ethereum blockchain platform. With the help of Cardano’s proof-of-stake (PoS) blockchain, Charles weighs on scalability, security, and interoperability to facilitate enterprise blockchain adoption. He directs research in Web3, cryptocurrency innovation, and decentralized governance through IOHK. Quick Facts Full Name Charles Hoskinson Birth 05-11-1987 in Hawaii, United States Nationality American Education University of Colorado Boulder, Metropolitan State University of Denver Marital Status Unmarried as of 2025 Net Worth Estimated around $700 million Charles Hoskinson's work in cryptography, digital assets, and blockchain promotion has recognized him in the crypto. His efforts in developing blockchain have greatly contributed to the advancement of DeFi and blockchain networks globally. Charles Hoskinson - Professional Career Timeline 2013 – Co-founded Ethereum (ETH), contributing to smart contracts and decentralized applications. 2014 – Left Ethereum over governance disputes and founded IOHK (Input Output Hong Kong). 2015 – Started developing Cardano (ADA), a third-generation blockchain with a proof-of-stake (PoS) model. 2017 – Launched Cardano mainnet, introducing scalable and secure blockchain solutions. 2019 – Led Cardano’s Shelley upgrade, enhancing network decentralization and staking rewards. 2021 – Rolled out Alonzo hard fork, enabling smart contracts and DeFi on Cardano. 2022 – Expanded Web3, governance, and blockchain adoption via Cardano’s Vasil hard fork. 2023 – Advocated financial inclusion and blockchain education in Africa and developing nations. 2024 – Advanced self-sovereign identity and on-chain governance with Cardano’s latest updates. Present – Continues shaping blockchain innovation, DeFi, and decentralized ecosystems through IOHK. He has collaborated with various tech experts and blockchain startups. Charles sees decentralized finance as a tool for financial freedom. He also educates crypto beginners through social media sites, conferences, and tech channels. Useful Links to Connect With Charles Hoskinson Platform Link X (formerly Twitter) Charles Hoskinson (@IOHK_Charles) / X LinkedIn profile Charles Hoskinson - Self-employed | LinkedIn Cardano Foundation Cardano Foundation YouTube profile https://www.youtube.com/c/charleshoskinson Chief Executive Officer among its clients.

“In 14 years of owning bitcoin, I’ve never seen a dichotomy like this,” Siemer noted in an interview with Coindesk. “The traders are all worried and nervous and hedged, fully neutral or worse. And the long-term people are all super bullish,” he added. 

Further, Siemer believes there’s a strong chance Bitcoin will reach $200,000 this year and thinks it could hit $1 million per coin eventually, though not in the near future. He adds that many smart, well-connected people are also very optimistic, and significant developments are expected in the next six months than most people realize.

Developments Coming Up

Siemer noted that several countries, including the U.S., Russia, Singapore, the United Arab Emirates, South Korea, Japan, the Philippines and some European nations are planning significant steps to support crypto in the coming year. These moves are expected to benefit their private sectors. Siemer also notes that trust in governments, like in Japan and Singapore, makes crypto regulations more impactful there. 

He also highlighted that the growing success of U.S. Bitcoin ETFs, is pushing global financial institutions to create new products to compete, such as multi-token yield funds. Siemer also shared that the U.S. Bitcoin ETFs beat global Bitcoin ETPs with high fees. He believes regulators will be supportive, and the EU may make crypto rules more favorable.

The Bitcoin Reserve

Siemer believes there is a high chance of new strategic Bitcoin reserves being created, with several countries likely to do so, even if the U.S. does not. He mentioned that Wave is in talks with seven U.S. states, including Texas, Ohio, and Wyoming, about creating reserves.

As for the federal government, Siemer estimates a slightly better than 50-50 chance, given that it already owns nearly $19 billion in Bitcoin. He suggests that the government could simply hold onto this Bitcoin, which would be more acceptable than purchasing more.

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Long Term Outlook Remains Positive

Recently, grayscale Investment grayscale Investment - Investment platform noted that Bitcoin’s price outlook remains “structurally bullish” despite temporary headwinds from macroeconomic data. Grayscale’s head of Research noted that Bitcoin seems to be held back by strength in the US dollar, which is rising due to more hawkish Fed policy and the threat of tariffs. 

However, he believes that the recent setback in the crypto market may be short-term, with the U.S. presidential inauguration approaching. He maintains a positive long-term outlook for crypto valuations.