Bitcoin Could Exceed $1 Million in 7 -10 Years: PayPal Director

[ricardobs]

I believe in what the director of PayPal said, though I think it's going to happen in a lesser time, let's say 5 years time, because we have begin to see inflation happen in so many countries of the world and this countries have already started looking for alternatives to grow their economy and the only saving grace would be crypto, this is why Russia is buying so much crypto as of today and other government of the world.

[Fortify]

Being a director of paypal doesn't give these particular people any special insight, they are probably invested in bitcoin themselves and that would give them an excuse to use their platform for self promotion. Transaction fees if a bitcoin was worth $1 million a piece might wipe out any potential benefits from using it, over a regular payment processor like paypal.

[Kevin77]

7-10 years is still not enough time for something that big, I mean if the question was "will bitcoin ever reach one million dollars?" I would probably say yes, since there is no time period or limit we can totally just wait for another 100 years and I do not think anyone would doubt bitcoin will be over 1 million dollars in 100 years.

So, it all depends on timing, we all know it will reach a million dollars for sure but I just doubt 10 years is enough, maybe if he said 25 years I would have agreed because that is plenty of time to go to million dollars but 10 years feels like it won't be enough, maybe 500k in 10 years could be more possible honestly, even that is a challenge and depends on the world economy as well, if there is a collapse and price skyrockets couple times than its doable but if world economy gets better than bitcoin will lose its worth.

[Clark05]

Because many people predicting bitcoin become $1,000,000 maybe it will become good because investors will be invest because they want to earn more profit that's the good side for the bitcoin value. But there is bad effects that's for sure because many people will not want impossible prediction so they possible for them to have doubt in the end and never to invest.

[CoinEraser]

“In my (subjective) opinion those chances of succeeding are at least 50%. If Bitcoin does succeed, 1 Bitcoin may be worth more than $1 million in 7 to 10 years. That is 250 times what it is worth today (at the time of writing the price of Bitcoin is ~ $4,000),”- Xapo CEO Wences Casares

News Courtesy - https://www.ccn.com/one-bitcoin-could-exceed-1-million-in-7-10-years-paypal-director

It is again only a prediction and as always it is difficult to say if this prediction will happen or not. I can well imagine that Bitcoin can reach this price at some point, even if a few doubts remain. But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on. 

[Pursuer]

it has never been a matter of "if" bitcoin succeeds. bitcoin is already succeeding and growing every day. and when that happens price will be a lot higher than this, $1 million will be just a start. in my opinion the thing is as Satoshi once said, bitcoin will either succeed and be used by millions of people or fail and won't be used at all.
with the path that bitcoin has been on for the past 10 years, price is going to rise past $1 million in a couple of years and 2 or 3 more "cycles".

[Wexlike]

“In my (subjective) opinion those chances of succeeding are at least 50%. If Bitcoin does succeed, 1 Bitcoin may be worth more than $1 million in 7 to 10 years. That is 250 times what it is worth today (at the time of writing the price of Bitcoin is ~ $4,000),”- Xapo CEO Wences Casares

News Courtesy - https://www.ccn.com/one-bitcoin-could-exceed-1-million-in-7-10-years-paypal-director

It is again only a prediction and as always it is difficult to say if this prediction will happen or not. I can well imagine that Bitcoin can reach this price at some point, even if a few doubts remain. But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on. 

 The absence of sellers (and/or shorters?) is remarkable. On the 3d chart (Bitstamp), a full 16(!) out of the last 19 volume candles have been green, including the latest three. I readily concede that this is a reflection of the fact that a bottom was likely made at 3200ish.

Nevertheless, in view of the steep rise that we have recently seen, and i conjunction with sharply falling volumes, this should signal temporarily overbought conditions IMHO. One should think that the odds are stacked for some sort of correction at this point, but then this is Bitcoin, and I would not be surprised if we reach 6000 before any meaningful reversal occurs.

[1Referee]

But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on. 

Imagine how that was for people who bought their first coins in 2010/2011. If you told them that Bitcoin would reach $1000 in 3 years, they would probably burst out laughing because it's so hard for people to fathom how something that's worth a few bucks can be worth that much.

I actually had a similar experience with a close internet buddy of mine who is an Ethereum fanboy. He kept repeating that its price would explode well beyond $100 when it was still below $10, which I (with my Bitcoin maximalist cap on) thought wasn't possible because everything at that point for me was a shitcoin and worth zero.

I am sure that he actually believed in Ethereum but was just speculating about its price, but still, he was right and I was wrong. I never ever again will underestimate any coin in terms of price action.

[LeGaulois]

But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on. 

Imagine how that was for people who bought their first coins in 2010/2011. If you told them that Bitcoin would reach $1000 in 3 years, they would probably burst out laughing because it's so hard for people to fathom how something that's worth a few bucks can be worth that much.

I actually had a similar experience with a close internet buddy of mine who is an Ethereum fanboy. He kept repeating that its price would explode well beyond $100 when it was still below $10, which I (with my Bitcoin maximalist cap on) thought wasn't possible because everything at that point for me was a shitcoin and worth zero.

I am sure that he actually believed in Ethereum but was just speculating about its price, but still, he was right and I was wrong. I never ever again will underestimate any coin in terms of price action.

That happens to the Bitcoin purists since they have a kind of love for BTC, they see BTC and nothing else. Then, as the saying goes, "only fools don't change" (But you're still a bit of a traitor ) There are some altcoins that are good and can be complementary for Bitcoin. If Bitcoin is the king, it needs its queen too

[1Referee]

That happens to the Bitcoin purists since they have a kind of love for BTC, they see BTC and nothing else. Then, as the saying goes, "only fools don't change" (But you're still a bit of a traitor ) There are some altcoins that are good and can be complementary for Bitcoin. If Bitcoin is the king, it needs its queen too

Nothing wrong with being a purist, but the thing that put me off was how I started following the same path as Tone Vays, which I find to be an idiot, and that's not cool at all, and actually a display of pure ignorance.

Bitcoin isn't the wonder pill that solves every pressing problem, and probably never will be. Bitcoin is extremely good in doing one thing right, and that's more than enough. Gold for example hasn't much utility to it, yet it's worth $8 trillion. This shows that doing one thing right (store of value in Gold's case) is more than enough to gain value. Bitcoin can do that much better.

Look at how popular altcoin exchanges are. More demand for altcoins translates to more demand for Bitcoin, because that's what you need to trade them.

[Bardman]

7-10 years is still not enough time for something that big, I mean if the question was "will bitcoin ever reach one million dollars?" I would probably say yes, since there is no time period or limit we can totally just wait for another 100 years and I do not think anyone would doubt bitcoin will be over 1 million dollars in 100 years.

So, it all depends on timing, we all know it will reach a million dollars for sure but I just doubt 10 years is enough, maybe if he said 25 years I would have agreed because that is plenty of time to go to million dollars but 10 years feels like it won't be enough, maybe 500k in 10 years could be more possible honestly, even that is a challenge and depends on the world economy as well, if there is a collapse and price skyrockets couple times than its doable but if world economy gets better than bitcoin will lose its worth.

I don't know, I'm really confident about the whole market and I'm sure we will reach 1t+ marketcap in total, however why are you so sure about bitcoin? To me it seems quite possible that another coin will overtake bitcoin, in fact right now bitcoin is only surviving because it has the most pairs but it will be outdated imo. New cryptos and technology used is happening every day, it wont take long until a really big breakthrough happens and kills bitcoin and classic cryptos or perhaps big companies start launching their own coins and people start using them and bitcoin and others start to fall.

[MakeMoneyBtc]

Yes, bitcoin could definitely exceed $1 Million but in the same time it could also go down to $1 so this are all speculation based on no real facts or reasons. In order for bitcoin to reach that price a huge mass adoption should be made and right now it doesn't seem like that's going to happen in the next 10 years.

[Wexlike]

I believe in what the director of PayPal said, though I think it's going to happen in a lesser time, let's say 5 years time, because we have begin to see inflation happen in so many countries of the world and this countries have already started looking for alternatives to grow their economy and the only saving grace would be crypto, this is why Russia is buying so much crypto as of today and other government of the world.

In my opinion it doesn't mean much, and I think it play a minimal role, which none, to anything. I'm pretty sure we will go above 6,000 USD - We have just has an accumulation phase - we haven't had any selling pressure even though the big spike.

We have the whales who clearly want us to go to 6,000 USD and above due to the huge liquidity pool, where they have the opportunity to stop hunt and squeeze, and make become richer. Also the fact, that BTC will geta comeback in the media, which will attract retail investors, who have bought the top (5th wave).

Hereafter we will go below 6k again after we have been crusing around 6k for a while.

[CoinEraser]

But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on. 

Imagine how that was for people who bought their first coins in 2010/2011. If you told them that Bitcoin would reach $1000 in 3 years, they would probably burst out laughing because it's so hard for people to fathom how something that's worth a few bucks can be worth that much.

I actually had a similar experience with a close internet buddy of mine who is an Ethereum fanboy. He kept repeating that its price would explode well beyond $100 when it was still below $10, which I (with my Bitcoin maximalist cap on) thought wasn't possible because everything at that point for me was a shitcoin and worth zero.

I am sure that he actually believed in Ethereum but was just speculating about its price, but still, he was right and I was wrong. I never ever again will underestimate any coin in terms of price action.

Yes, in 2011/2012 many people even laughed when I said that the price can rise above 100$ or even to 1000$. Many regret today that they laughed about it and wish they had bought at least for some bucks Bitcoins as the price was not even 10$.
I also underestimated Ethereum. I didn't expect such a price increase. Besides I had lost most of my eth coins on the shit exchange crypsy and never bought it back cheaply (also with my Bitcoin maximalist cap on  ). In this way I also learned that altcoins should not be underestimated. 

But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on. 

Imagine how that was for people who bought their first coins in 2010/2011. If you told them that Bitcoin would reach $1000 in 3 years, they would probably burst out laughing because it's so hard for people to fathom how something that's worth a few bucks can be worth that much.

I actually had a similar experience with a close internet buddy of mine who is an Ethereum fanboy. He kept repeating that its price would explode well beyond $100 when it was still below $10, which I (with my Bitcoin maximalist cap on) thought wasn't possible because everything at that point for me was a shitcoin and worth zero.

I am sure that he actually believed in Ethereum but was just speculating about its price, but still, he was right and I was wrong. I never ever again will underestimate any coin in terms of price action.

That happens to the Bitcoin purists since they have a kind of love for BTC, they see BTC and nothing else. Then, as the saying goes, "only fools don't change" (But you're still a bit of a traitor ) There are some altcoins that are good and can be complementary for Bitcoin. If Bitcoin is the king, it needs its queen too

You're absolutely right about that. Every king needs a queen. It's really stupid I didn't think of that at the time. 

[Oceat]

The targeted year is not enough for Bitcoin to reach $1 Million IMO but if it is 20 -30 years i might agree with his predictions since $1 Million is too much. I just wondered how could they do their prediction that they could just say something out of the blue. Even if he is the PayPal Director or the CEO of a multi-billionaire business or whatever it is, this doesn't mean that their prediction might come true. No one could actually tell what would be the future so, i don't take much of that prediction, i'd rather focus myself on what is in the present.

[BlueStackz]

But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on. 

Imagine how that was for people who bought their first coins in 2010/2011. If you told them that Bitcoin would reach $1000 in 3 years, they would probably burst out laughing because it's so hard for people to fathom how something that's worth a few bucks can be worth that much.

I actually had a similar experience with a close internet buddy of mine who is an Ethereum fanboy. He kept repeating that its price would explode well beyond $100 when it was still below $10, which I (with my Bitcoin maximalist cap on) thought wasn't possible because everything at that point for me was a shitcoin and worth zero.

I am sure that he actually believed in Ethereum but was just speculating about its price, but still, he was right and I was wrong. I never ever again will underestimate any coin in terms of price action.

Hmm, that is really a true talk, from 2010 till date, apart from the bull  which was not a natural move, as a result of adoption, bitcoin has been about to grow about 5000x and if not more than, and the adoption rate is still very low.

Let us now imagine another 10 years of Bitcoin more, with the adoption that keeps increasing on a daily basis, then there is no doubt that this Bitcoin will surely hit $1000000 in 10 years’ time. Well, let me not be too excited yet, we will all see this in 10 years’ time.

This is why my present BTC investment is tied to a 10 years plan. I am still trading with my investment, but the profit is what I take, while may capital still remains.

[Slow death]

Yes, bitcoin could definitely exceed $1 Million...

the price is $5500, and we're talking about reaching 1 million dollars? What would the market cap be like? I like bitcoin and I am very happy whenever the price increases, but there are predictions that are very exaggerated, 1 million dollars is something impossible to be reached, even if 50 years passed, I do not believe we will reach 1 million dollars. it's an impossible prediction

The targeted year is not enough for Bitcoin to reach $1 Million IMO but if it is 20 -30 years i might agree with his predictions since $1 Million is too much.

it's an impossible prediction

[pooya87]

the price is $5500, and we're talking about reaching 1 million dollars? What would the market cap be like? I like bitcoin and I am very happy whenever the price increases, but there are predictions that are very exaggerated, 1 million dollars is something impossible to be reached, even if 50 years passed, I do not believe we will reach 1 million dollars. it's an impossible prediction

who cares about market cap? bitcoin is not a company to have a market capitalization, it is a currency and market cap is not even defined for currencies. so when you calculate something by multiplying two values you are coming up with a number that you choose to call market cap...
it is ok to not think $1 million is possible but you shouldn't think that way just because some arbitrary value (market cap) seems like a big number!

[exstasie]

The targeted year is not enough for Bitcoin to reach $1 Million IMO but if it is 20 -30 years i might agree with his predictions since $1 Million is too much.

it's an impossible prediction

I'm sure in 2009 that $20,000 seemed impossible too. The kind of growth we've seen in the past, in % growth terms, is much greater than a rise to $1 million from here. Going from $.01 to $20K makes a $1 million look like a piece of cake!

The 2020s sounds perfectly reasonable to me. I think reaching the millions USD is very possible in the next bubble, assuming the global economy doesn't go down in flames first. It depends if we're limited to log growth or go vertical in S-curve fashion.

[Juggy777]

The targeted year is not enough for Bitcoin to reach $1 Million IMO but if it is 20 -30 years i might agree with his predictions since $1 Million is too much. I just wondered how could they do their prediction that they could just say something out of the blue. Even if he is the PayPal Director or the CEO of a multi-billionaire business or whatever it is, this doesn't mean that their prediction might come true. No one could actually tell what would be the future so, i don't take much of that prediction, i'd rather focus myself on what is in the present.

Hey I’ll agree with you it’s difficult if not impossible for bitcoin prices to reach those levels as stated by him. I have normally observed whenever bitcoin prices are rising such speculative statements are made, and then they fade away when it starts to fall. Also I have always advised never to buy bitcoins based on such speculative statements one should buy only if he believes in the technology, and can hodl it for the long term.