On Friday (December 13), TheStreet reported that during a roundtable discussion on the future of Bitcoin, host Rob Nelson discussed the future price trends, historical performance, and the role of smaller units of valuation in promoting its adoption with futurist and founder of Quant Index, Armando Pantoja.
Price predictions and growth potential
Rob Nelson expressed optimism about Bitcoin's future trajectory, stating, 'I think I underestimated Bitcoin's performance over the next year.' He noted that based on previous halving cycles, Bitcoin's price could reach between $150,000 and $200,000 by the end of next year, even speculating it might surpass $1 million. 'The idea that Bitcoin could soar above a million dollars is not crazy,' he added.
Armando Pantoja agreed on the possibility of Bitcoin reaching a million dollars, but emphasized the uncertainty of the timeline. 'It may happen within this cycle, or it may not, but a million is almost inevitable,' he stated. Pantoja referenced historical trends, particularly the dramatic rise of Bitcoin in 2017, while suggesting that the rate of growth in the future might be more gradual. 'This could happen again, but I don't think it will be as drastic, as derivatives and ETFs tend to reduce volatility.'
Long-term potential and changes in valuation units
Both guests acknowledged the enormous potential of Bitcoin over the next decade. 'In the next five to ten years, it is not impossible for Bitcoin to achieve a tenfold increase from its current price,' Pantoja said. However, he opposed the notion that Bitcoin prices could reach $10 million or higher, citing changes in future pricing methods. 'In the future, we might price in smaller units, like micro-bitcoin or Satoshi. That is key,' he explained.
Pantoja further elaborated on the appeal of smaller units of valuation, likening it to stock splits. 'People are more inclined to buy stocks at lower prices, regardless of economic principles,' he pointed out. He suggested that pricing Bitcoin in smaller units would make it more attractive to retail investors, thereby paving the way for broader adoption.
Driving force
Both guests agreed that Bitcoin's long-term appeal relies not only on its price increase but also on innovative pricing methods that can lower the psychological barrier for investors. This strategy could become a key driver for future Bitcoin growth, further solidifying its position in the global financial system.
