[2017-05-24]Bitcoin Will Hit $1 Million in 5-10 Years, Says PayPal Director

[Netnox]

In don't know whether the guy is serious or not. Now let me ask a counter question. Since he is so confident about Bitcoin, is he ready to convert 90% of his investment portfolio in to crypto-currency? Because if what he claimed is true, then no other asset will give him the sort of returns that BTC is going to provide.

[monocolor]

lol, wish this come true, I can retire 10 years before planned, will be a wonderful thing to happen

[prehisto]

It is all fun and jokes while everything is going up but I also want to believe those people are not spewing numbers out of their asses randomly.

1million dollars/btc is just too high. Even in 10 years.

Price: $2674,83           Market cap: $43.736.244.299,00

Price: $1.000.000,00    Market cap: $16.351.037.000.108,42

A whooping 16 Trillion USD market cap.



Total Gold market is 8 Trillion USD. Is that realistic to you? Not to me. A realistic target should be around 50k$/btc at first, then we talk.

Very nice post with calculations. Shows have ridiculous hes claims are.
One would await better thought out press releases from upper management of  huge modern company.

On other note, hate their (PayPal) guts because of their policies and customer - support relation .

[VasyaPupkin]

I wish this will be true, lmao, I'd be so happy if it happens. Regardless, the bitcoin is in an ascending phase, and it is just the beginning, so it's always good to hold on to it.

Yes, I would also agree if it happened. But I doubt that any asset can reach such a high price. Even with the fact that the number of coins is limited now it seems unlikely that bitcoin will once be so expensive

[Aur3]

Anything is possible. Bitcoin is an item of interest now. More and more people talk about it. So, let's see where the story goes. Who knows? This is what the world is waiting. Can Bitcoin fight corruption? Can Bitcoin improve the quality of education? Answer yes to these questions and there's no doubt in my mind a bitcoin is worth more than a million.

[fancy2973]

Very aggressive predictions...I do hope it will be true. this way i can retire and travel the world!

[Coin-Keeper]

If only this would be true.  I could set my entire family FREE giving a bitcoin to each member.

[CryptoComes]

If you want people to take you serious, then at least put some effort into making yourself not look like a clown. It's pointless to speculate about such insanely high prices while we haven't even been close to reaching the $10,000 level yet. If he would say that we would reach $10,000 within 10 years, I would strongly support his statement, but how can I do that with $1 million? Other than that, I do agree with his statement that people should allocate a certain percentage of their wealth to Bitcoin. People have been looking at the price reaching $1300, $1400, $1500, $1600, etc, and started thinking it was too late to invest - look where we stand right now, it's never too late!

I agree with you, $1 Million seems unrealistc, but $10k 5-10 years is quite possible.

But if we let us to indulge in fantasies for a while we can try to imagine what will happen if bitcoin will replace all the money in the world. There are roughly $75 trillion in the world right now. Since it is a very rough estimation say we have 20 million BTC.

75 trillion / 20 million = 3.75 million

So in that case 1 bitcoin will be worth of $3.75 million.

Hello guys!
So what is your forecast about replacing all money with Bitcoin?
What will be the price then?
Is it possible? Do you have an interest in it for now?

[Zicadis]

If this where possible it could mean very few people would be using bitcoin and am afraid such high prices could close buying opportunities for small investors and  those that cant afford to buy the btc will be forced to use other cryptocurrencies.

I also think 10 Years is not enough time for the btc market to grow to a million dollars as we are only one hundredth of the prediction

[limek]

Since the global adoption is still low, the chances is very high. We seldom see "crypto accepted here" globally at majority of the shop around us... The rate already raise from few cents to more than $20,000.

[gabbie2010]

This prediction is absolutely outrageous and seem unrealistic to me, mathematically his predictions is liked or based on exponential increment in the price of bitcoin although in 5 to 10 years the price will surely increased but cannot hit the $1 million predicted mark even with more global adoption of bitcoin.

[Cryptodetail]

This prediction is absolutely outrageous and seem unrealistic to me, mathematically his predictions is liked or based on exponential increment in the price of bitcoin although in 5 to 10 years the price will surely increased but cannot hit the $1 million predicted mark even with more global adoption of bitcoin.

You are right. We just don't have enough cap in the world to beat this target.

[zarados]

My prediction with a simple calculation that compares the bitcoin market cap bitcoin and gold market cap.
current bitcoin market cap = $ 199 B
current gold market cap = $ 8.2 T
current bitcoin price = $ 11,872
$ 8.2 T / $ 199 B = 41.2
bitcoin need 41.2 times current market cap to reach the gold market.
Possible price is
41.2 x 11.872 = $ 489,197
With very fast bitcoin growth, $ 1M / btc may still be practically reasonable.