Can you imagine seeing the price of Bitcoin with six zeros before the decimal point? 🤯 Well, it's not a crazy dream of a deranged crypto maximalist: it's the official projection from Bitwise's head of research, André Dragosch 🧑🏫, one of the most listened-to names in the institutional sector.
In a recent talk 🔊 on Chain Reaction (spaces on X), Dragosch dropped a prediction that left everyone speechless:
BTC at 1,000,000 USD in 2029 🟡➡️💵
🤔 How do we reach that figure?
According to Dragosch, if Bitcoin manages to match the market capitalization of gold (over $21.7 trillion) 🪙, it would make sense for its price to rise to that level. Currently, BTC's market cap is around $1.9 trillion, already making it the seventh largest asset in the world 🌍.
But that's not all...
📊 Projection for 2025:
• Base case: BTC at $200,000 💥
• With state adoption (yes, governments buying BTC!): $500,000 🔥
• And look: the U.S. might be considering buying BTC directly!
According to Bo Hines from the Presidential Council of Advisors on Digital Assets (long name, but powerful), the U.S. government is exploring creative ways to fund BTC reserves without having to sell gold. Institutional intervention 2.0? ⚖️
😎 Why isn't this prediction just smoke?
• Bitcoin ETFs have broken records in their first year 📈
• The iShares Bitcoin Trust (BlackRock) is already the most successful ETF in history 🏆
And that's not to mention that not all major banks (Wirehouses like Merrill Lynch or Morgan Stanley) have opened their channels yet! ⛔️➡️✅
If those giants with over $10 trillion in assets under management decide to move... the institutional tsunami would be REAL. 🌊🏦
📍 In summary:
Bitwise is not launching empty hype. Their prediction of BTC at $1M is supported by the comparison with gold, the influx of capital via ETFs, and potential government participation. All of this points to a longer... and more explosive market cycle. ⏳💣
📌Sources: Cointelegraph
🤔💬What do you think?
Do you think BTC will really reach a million in 2029, or is that too optimistic? 💥And the base case of $200K for 2025?
💬I'll read you in the comments!
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