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Key Points
Bitcoin could hit a price of $1 million by 2028, according to crypto entrepreneur Arthur Hayes.
While pro-Bitcoin initiatives from the government get all the attention, crypto investors should also keep their eye on factors impacting the U.S economy.
Fiscal and monetary policies embraced by the U.S. government could lead to money flowing into Bitcoin at a rapid pace over the next three years.
Bitcoin valuation models
There are a number of different ways to come up with a price of $1 million for Bitcoin. One popular approach is to look at current Bitcoin adoption rates around the world and then extrapolate how fast Bitcoin could grow over the next decade. The more use cases you can find for Bitcoin, and the faster that Bitcoin grows, the higher the price target becomes. That's how Cathie Wood of Ark Invest came up with her original $1 million price target for Bitcoin.
