Bitcoin's Path to $1 Million Remains Uncertain Despite Lofty Predictions
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Million-dollar Bitcoin price targets are based on extrapolating past growth rates or comparing Bitcoin's market value to other assets like gold.
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A $1 million Bitcoin price implies a $20 trillion market valuation, nearly 7x more than Apple or Microsoft's current valuation.
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Cathie Wood's $1.5 million target for Bitcoin is based on modeling different use cases and growth projections, with transparent methodology.
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We should be careful about believing targets of $1 million Bitcoin in 2024 just because of new spot Bitcoin ETFs.
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Bitcoin's potential is still uncertain and a $1 million valuation likely won't happen soon without a major economic shock.