The BTC to $1M thread (12% reached)

[As-Soon-As]

It is true that the price of Bitcoin will increase, in the future the price of Bitcoin will increase even more and investors will be created. I think that when the price of Bitcoin reaches 100k dollars, it will follow the highest speed and move to a higher price. It may follow a million dollars very soon, but we have to wait for 1-2 halvings. If the price of Bitcoin continues to increase like this, it is definitely better to invest now for those who are deprived of investment.

Because the world's largest Bitcoin holder institutions are only holding Bitcoin, and they think that they will hold Bitcoin for a few more years to come. And I think they will definitely be successful because the price of Bitcoin increases by several thousand dollars every day.

[fuguebtc]

Yes. I doubt it too, but it's worth saying that people often underestimate Bitcoin's growth potential. Just a few months ago, many people doubted that BTC could double in price and reach 100k by the end of the year. And yet, here we are.

Not everyone underestimates the potential of bitcoin, everyone believes that bitcoin will reach $100k but the market knows how to torture our psychology.
After rising to $73k before the halving, the bitcoin has been correcting and moving sideways for months. That makes people skeptical about short-term growth and that's why no one believes bitcoin can reach $100k before the end of the year.

Also, I don't think your numbers check out.  You're going by Bitcoin's total possible supply, but that dosn't work because not all coins are really out there on the market.  Total market cap doesn't take into account the real market supply, which is actually much lower.

Even if my numbers are incorrect, we'd still need tens of trillions of dollars for bitcoin to hit $1 million, and I don't think that's going to be easy to achieve anytime soon.

The US stock market was founded in 1972 and is considered the most lucrative market when it comes to finance, but to date, its market capitalization is just over $50 trillion. How could a relatively new asset like bitcoin reach a market cap of $15-20 trillion in such a short time? That's much more absurd than bitcoin hitting $100k this year. I'm not underestimating bitcoin's potential but let's be realistic.

[bias]

Did anyone freak out yesterday or get sad about the price drop? We have to be aware of the price levels we are at. When bitcoin was worth $990 it going down to $958 did not have the same effect on people's minds as when it has dropped from almost $100K to $95.9K. We have to get used to these price swings on the way to a million. In the not too distant future price increases or decreases of tens of thousands of dollars in a single day will be normal.

Well, this is a key factor and I totally agree with it. With the price of BTC having reached $100k and having the undeniable prospect of exceeding it (perhaps even 1 million is little), many new investors will tremble at the idea that the price will fall by 3-4-5%, something which for us "veteran" people and those who deal with the price of BTC on a daily basis is normality. I am afraid that if the price falls by 25-35% we will see very bad situations as in the cases of economic crashes. Especially from small investors who do not have insurance keys/ safety net measures or the patience for the price to return to the levels they bought.

[jcojci]

This will be a long time journey for Bitcoin to hit $1M per Bitcoin but we believes that the price can be at that price in the future. We must have a big patience in holding our Bitcoin and continue to accumulate more Bitcoin while we are waiting for the price hit that price. That will also makes people amaze when they see that price because they will never imagine to see that. That could be 2 or 3 cycles of bull run for us to see $1M per Bitcoin but who knows that will happen out of our prediction since Bitcoin can go to any highest price. I am sure that many people will make sure they are in that moment and sell at that price. But the question is how many Bitcoin we can collect when the price hit $1M? That is what we need to works on.

[Minor Miner]

But the question is how many Bitcoin we can collect when the price hit $1M? That is what we need to works on.

My question is how many people can hold bitcoin until the price hits $1 million? Because the road to $100k is really bumpy and we're not even there yet but many people are already selling their bitcoins. Bitcoin is not growing vertically and the road to $1 million is much more thorny and challenging, can we persevere until then? I doubt it. Maybe everyone believes that bitcoin will reach 1 million dollars in the future, but the problem is that no one will wait until then because life has many things to worry about and does not allow us to do that.

[bias]

My question is how many people can hold bitcoin until the price hits $1 million? Because the road to $100k is really bumpy and we're not even there yet but many people are already selling their bitcoins. Bitcoin is not growing vertically and the road to $1 million is much more thorny and challenging, can we persevere until then? I doubt it. Maybe everyone believes that bitcoin will reach 1 million dollars in the future, but the problem is that no one will wait until then because life has many things to worry about and does not allow us to do that.

I will wait, man, count one for now! 
Why do you doubt it? We are still here, right? If we, the members of this community doubt for BTC, then it shouldn't get the $100k milestone, not even $100.
OF COURSE, no one has to sell all his coins now, that would be a huge mistake. And now, everybody knows that. For sure though the road until the $1mil is difficult and more than early to even talk about it but hey, why not believe in it instead of being pessimistic? We always see everything optimistically, otherwise, let's dig a hole and get in from now.

[BABY SHOES]

My question is how many people can hold bitcoin until the price hits $1 million? Because the road to $100k is really bumpy and we're not even there yet but many people are already selling their bitcoins. Bitcoin is not growing vertically and the road to $1 million is much more thorny and challenging, can we persevere until then? I doubt it. Maybe everyone believes that bitcoin will reach 1 million dollars in the future, but the problem is that no one will wait until then because life has many things to worry about and does not allow us to do that.

I will wait, man, count one for now! 
Why do you doubt it? We are still here, right? If we, the members of this community doubt for BTC, then it shouldn't get the $100k milestone, not even $100.
OF COURSE, no one has to sell all his coins now, that would be a huge mistake. And now, everybody knows that. For sure though the road until the $1mil is difficult and more than early to even talk about it but hey, why not believe in it instead of being pessimistic? We always see everything optimistically, otherwise, let's dig a hole and get in from now.

It is not a big mistake to sell coins now they certainly have a target when $100K, especially those who bought in the range of $20K back then they already had 5x profit when the price was $100K.

The question is who will be the strongest holder?.... During the road to $1 million?

I'm sure... when the price of bitcoin reaches $200K all investors will be excited they may release their ownership in part or all... then to $500K will certainly be even more excited, right?

But I'm sure there must be a true holder to hold up to $1M.

[doomloop]

This will be a long time journey for Bitcoin to hit $1M per Bitcoin but we believes that the price can be at that price in the future. We must have a big patience in holding our Bitcoin and continue to accumulate more Bitcoin while we are waiting for the price hit that price. That will also makes people amaze when they see that price because they will never imagine to see that. That could be 2 or 3 cycles of bull run for us to see $1M per Bitcoin but who knows that will happen out of our prediction since Bitcoin can go to any highest price. I am sure that many people will make sure they are in that moment and sell at that price. But the question is how many Bitcoin we can collect when the price hit $1M? That is what we need to works on.

Long, yeah because we haven't even bypassed the $100k limit yet but once we do and the price pumps consistently, it might still be possible for the process to speed up. BTC is volatile, so there is no guarantee that we can stay at $1M even if we hit it. BTC is not new and already have a lot of achievements. That is enough for me already.

My question is how many people can hold bitcoin until the price hits $1 million? Because the road to $100k is really bumpy and we're not even there yet but many people are already selling their bitcoins. Bitcoin is not growing vertically and the road to $1 million is much more thorny and challenging, can we persevere until then? I doubt it. Maybe everyone believes that bitcoin will reach 1 million dollars in the future, but the problem is that no one will wait until then because life has many things to worry about and does not allow us to do that.

I'm with him. Holding is more advanced but before we got on that part, isn't the first thing that we must do is to buy? Though, it does not matter if how much you can collect because not all have unlimited amounts. As they say, quality beats quantity and quality here is by the time we hold on to the higher price level. BTC is not new and a lot of people have learned now from their mistakes, so I think a lot of people now can HODL longer than ever.

There are some that will sell on future ATH's before we hit a million dollar but they can always buy and HODL again. That should make their life more easier though with a cost of some profits. We are almost at $100k last time but who would have thought that we still fell down to $92k now? Lol. So indeed that the road seems bumpy now. It is like we are still giving some suspense before the main show arrives.

[Ultegra134]

I think the OP is fast tracking to the future, not even the near future cause that figure isn't realistic in this bull run, it could be possible in the next two circles but not now, Bitcoin is almost 100k and yet to break into the six figures and someone is already thinking about seven figures. Well, it's not bad to think deep and wish your thoughts could be fast tracked into a reality, I'm not saying it's never possible, of course it is, we've all seen the potential and how far it could go, we've seen that more people are embracing it but then heading to the seven figures in this circle or even the next is not realistic, it would definitely get to that point sometime in the future and hopefully we'll witness it get there. I've stopped bothering myself about what the price of Bitcoin would be in future or how high it can go cause I've come to so much believe in the potential of it and all I care about right now is accumulating more of the coins for the future, which I consider very important.

I don't think that the OP is suggesting it's possible in this bull run or any other bull run in the upcoming few years. It's certainly a possibility in the distant future, perhaps over a decade from now, or it might not even happen at all; everything is possible. It's certainly not bad to come up with speculations; although these might seem a little too confident, with which I agree, it's an overexaggeration that might not occur at all, but it's still a possibility. A few years ago we couldn't have imagined breaking 6 figures, so why not 7?

I fully understand your point. Bitcoin will need to 10x its current price to achieve that; if you carefully consider it, it sounds impossible.

[aoluain]

Roll back at least 2 years....

Imagine posting this thread back in 2022, it would be lambasted and criticised.

Now - $1,000,000 Bitcoin is not such a fantasy at all, its definitely on the cards, for
2025 - Its hard to see.

The biggest driver of this is the Trump factor and his proposals to add it to the treasury,
who would have thought of that happening 2 years ago or before?

Michael Saylor for sure is preparing for $1m and beyond, he sees it.

[STT]

I wouldnt take these predictions deadly serious because the unspoken words to such a high figure is we are discussing decline of the dollar perhaps more so then Bitcoin itself.   If they did pandemic levels of money printing again next year then 1 mill could happen in 2027 maybe but otherwise I'd think not for this decade especially not if they the powers that be for monetary supply are sensible in any way.  If you think otherwise you are expecting a weimar republic type collapse perhaps.

Optimistically speaking it could also be in 1m target we are discussing a grand explosion in usage.   More then the original core pursuits for BTC which was mostly online and gambling related but all kinds of usage.  People have been speculating we do the physical grocery shopping with BTC for a while, its not impossible and might be true some places but Im not expecting a blanket usage for BTC in every possible place.

    The other take is reserve asset usage, Bretton woods post ww2 famously used gold as the backstop to continue centuries of tradition going back to Issac Newton as treasury master; again I dont expect this to occur this decade at least.

[EarnOnVictor]

I've been thinking about opening this thread for a while now and I finally decided because I think it is now abundantly clear that this is not a question of whether the price will reach $1M, but when it will.

Even if Bitcoin hits $100k which I know that its brighter hope brought about the conviction to open this thread, the $1m is still 10x from it, it's large. This is still not different from how people viewed Bitcoin the last time it hit the ATH of almost $70,000 for the first time in 2021, you would see people calling 500k or even $1m very soon, which excitement and the elaborate view is rekindling again, we should take it easy. Regardless, your question is very accurate even though I don't think Bitcoin can reach $1m in 2 decades, but "When" is a very proper question, but no one can ever say they know. This generation may not even witness it.

[BALIK]

...
Regardless, your question is very accurate even though I don't think Bitcoin can reach $1m in 2 decades, but "When" is a very proper question, but no one can ever say they know. This generation may not even witness it.

I don't have any predictions or thoughts on when bitcoin will hit $1 million because that's too hard but I agree with you that it won't be easy to get there. 10x growth from now on is not as easy as before because bitcoin's market capitalization has reached trillions of dollars, and trillions of dollars is a very big number, not as small as people think.
I am surprised that people still apply exponential growth model to bitcoin and expect it to give them x5, x10 profit in just 3 to 5 years. This can easily be applied to small cap assets but with assets that have become huge like bitcoin, we cannot apply it. People are getting a bit delusional and setting their expectations too high and unrealistic.

[Free Market Capitalist]

I don't have any predictions or thoughts on when bitcoin will hit $1 million because that's too hard but I agree with you that it won't be easy to get there. 10x growth from now on is not as easy as before because bitcoin's market capitalization has reached trillions of dollars, and trillions of dollars is a very big number, not as small as people think.
I am surprised that people still apply exponential growth model to bitcoin and expect it to give them x5, x10 profit in just 3 to 5 years. This can easily be applied to small cap assets but with assets that have become huge like bitcoin, we cannot apply it. People are getting a bit delusional and setting their expectations too high and unrealistic.

You look a bit pessimistic, my friend. Have you heard the news about bitcoin since the US election? A gigantic increase in demand you do not take into account? USA will probably buy 1 million bitcoins for 5 years. Brazil wants to implement a strategic reserve as well. Smaller countries like Argentina or Morocco have just passed bitcoin friendly legislation. MSTR has bought 150,000 bitcoins this year, with one more purchase it will have bought as much or more than the bitcoins expected to be mined next year (165,000) and this has only just begun.

That's why there are reputable people like Adam Back (who is not a nut like McAfee) saying that we can reach 7 figures this very cycle.

[bias]

It is not a big mistake to sell coins now they certainly have a target when $100K, especially those who bought in the range of $20K back then they already had 5x profit when the price was $100K.

As I said, not ALL. Of course, you have to sell some because it's profitable but not all of your stash.

I'm sure... when the price of bitcoin reaches $200K all investors will be excited they may release their ownership in part or all... then to $500K will certainly be even more excited, right?

But I'm sure there must be a true holder to hold up to $1M.

Yes, we will sell some in any case, that's not bad or wrong. But we will rebuy when the price drops, even more, if possible. My argument is that we don't have to sell all of our coins because of the price. Even if the price is tempting, we still have to hodl something.

[philipma1957]

I've been thinking about opening this thread for a while now and I finally decided because I think it is now abundantly clear that this is not a question of whether the price will reach $1M, but when it will.

The first one that I can remember who said it with public resonance was the one who said that if the price didn't reach $1M by the end of 2020 he would eat his dick on national TV. Then we know how it turned out. I don't know if those of you who have been on the forum and in the bitcoin world longer remember any public figure or anyone on the forum talking about that possibility before McAfee. If so, say so and I'll post it in the OP.

Although it came later than McAfee's (rest in peace) crazy prediction, I think PlanB's Stock-to-Flow model was one of the first I remember seeing to hint at a potential $1 million Bitcoin. While I don't think he specifically mentioned a $1 million price target, his model definitely suggested that Bitcoin could reach that kind of crazy number during this bull cycle, before the next halving. It was pretty exciting to see the potential!

In any case, after a disappointing 2020-24 cycle in terms of returns, where we started to talk about institutional adoption but it was much lower than expected, now it seems that institutional adoption is really starting. Michael Saylor is buying bitcoins for MSTR as if there is no tomorrow, the US president-elect promised to create a bitcoin reserve with the ones they already had but the Cynthia Lummis proposal to build up the reserve by buying bitcoin, up to 1 million in 5 years, has quite a few signs of becoming a reality, as there are 269 congressmen and senators in the US who are pro-crypto. Not only that, the US president-elect's appointments so far to his cabinet are mostly pro-bitcoin, people who have publicly stated that they have bitcoin holdings.

All of this we already know can unleash, and is already unleashing, institutional FOMO, leading to supply shock. This has led prominent figures such as Adam Back, creator of Hashcash and quoted in the White Paper, to say that if the strategic reserve goes ahead we should prepare for a 7 figure bitcoin this cycle. There are other characters, perhaps not as relevant but with public influence, who are in the same line, such as Samson Mow.

In any case as of today $1M per bitcoin no longer seems crazy, it no longer seems so far away, and I am creating this thread for us bitcointalkers to share experiences along the way.

I am sorry but it is this small minded thinking that holds people back.

1million a btc is not the goal here.

1 dollar a sat by 2030 is the goal.

open your mind to that as our reality.

1 dollar a sat by 2030. Said here on your thread that only wants a piddling 10 cents a sat.


Please realize all of the above is just joshing as to even think I will see a dollar a sat by 2030 is an amazing thought for me to manifest.

[justdimin]

It is not a big mistake to sell coins now they certainly have a target when $100K, especially those who bought in the range of $20K back then they already had 5x profit when the price was $100K.

The question is who will be the strongest holder?.... During the road to $1 million?

I'm sure... when the price of bitcoin reaches $200K all investors will be excited they may release their ownership in part or all... then to $500K will certainly be even more excited, right?

But I'm sure there must be a true holder to hold up to $1M.

Yeah, selling right now makes no sense, price will go above 100k eventually, sure we failed when we tried once, but that doesn't mean that we are going to end up with something much bigger eventually, it has to be something that will take a while to get above that finally but waiting is half of the game and that's how we make some profit as well.

We need to consider how things could change, we need to consider how price would go up and that is why we need to not sell right now, and even if possible maybe accumulate some more. I know it's high, and buying right now is hard but that doesn't mean that we are going to grow that much, just wait for it to recover and it will definitely reach to a point that will make a bit more money.

[Free Market Capitalist]

I am sorry but it is this small minded thinking that holds people back.

1million a btc is not the goal here.

1 dollar a sat by 2030 is the goal.

open your mind to that as our reality.

1 dollar to sat is 100 fucking million dollars per bitcoin. I like your idea, however fanciful it may be. Too bullish for my taste but I wish it was like that.

Although the other part of the equation leads one to think it might be so because the dollar has been extremely devalued and a dozen eggs will cost you $300 in 2030. Although even on this assumption I think it would be about 10X from these levels.

[BABY SHOES]

I'm sure... when the price of bitcoin reaches $200K all investors will be excited they may release their ownership in part or all... then to $500K will certainly be even more excited, right?

But I'm sure there must be a true holder to hold up to $1M.

Yes, we will sell some in any case, that's not bad or wrong. But we will rebuy when the price drops, even more, if possible. My argument is that we don't have to sell all of our coins because of the price. Even if the price is tempting, we still have to hodl something.

That's the scenario I'm thinking about now, when the price goes up and the profit is worth taking then it's likely to do so, because we also want to buy more in the downturn, because I myself am definitely relying on the profit now.

For now it is still on hold, I feel that the price can go to $120K or to $150K, then after the bullish period is over we can see that the bearish will come... Must prepare fiat reserves to be able to buy more.

[philipma1957]

I am sorry but it is this small minded thinking that holds people back.

1million a btc is not the goal here.

1 dollar a sat by 2030 is the goal.

open your mind to that as our reality.

1 dollar to sat is 100 fucking million dollars per bitcoin. I like your idea, however fanciful it may be. Too bullish for my taste but I wish it was like that.

Although the other part of the equation leads one to think it might be so because the dollar has been extremely devalued and a dozen eggs will cost you $300 in 2030. Although even on this assumption I think it would be about 10X from these levels.

$6.29 for a dozen jumbo the other day.