jack dorseythe former CEO of X (formerly Twitter) predicted that time Bitcoin will reach $1 million. The technology entrepreneur is a well-known figure in the cryptocurrency space and is known for investing heavily in the leading cryptocurrencies.
When Bitcoin reaches $1 million
in interview Dorsey said on Pirate Wires that BTC could reach $1 million by 2030 and beyond. In addition to predicting Bitcoin's future trajectory, Dorsey also took time to evaluate the Bitcoin ecosystem. He said that besides its history, “the most amazing thing about Bitcoin” is how the people who work with it, earn money with it, and invest in it help build an ecosystem that He said it would cause an increase in prices.
Dorsey He also claimed that Bitcoin is a “fascinating ecosystem and movement” from which he has learned a lot. Based on his claims, there is no doubt that this technology entrepreneur is one of the people contributing to the growth of the Bitcoin ecosystem. Dorsey and digital payments company Block already own over 8,000 BTC.
his company too recently announced plans to begin investing 10% of his monthly Bitcoin-related gross profits into additional BTC purchases. This investment plan could lead to the company investing up to $24 million in his BTC after one year. It's also worth mentioning that Dorsey is actively working on building the Bitcoin ecosystem.
it was previously reported The former CEO of Twitter was reportedly planning to build a Bitcoin decentralized exchange (DEX).Recently, Dorsey's Block announced We announced that the BTC mining system that we have been working on since April 2023 has been completed.
BTC may reach $1 million this year
Jan3 and CEO of Bitcoiner Samson Mo Dorsey shares the opposite opinion.he predicted So far, Bitcoin could reach $1 million by the end of this year. Moe alluded to the growing demand for Bitcoin as a reason for his belief. The cryptocurrency founder suggested that even if this prediction does not happen this year, it is likely to be achieved next year.
Crypto Analyst PlanB We also believe that it is more realistic for Bitcoin to reach this price level next year. He said that based on Bitcoin's stock-to-flow (STF) indicator, $1 million could be the market high for BTC in this bull market, and that the average price of BTC during this market cycle is He suggested it was $500,000.
Other crypto analysts have made more conservative price predictions for this bull run. CryptoQuant CEO Ki Young-joo recently predicted BTC could reach $265,000. Meanwhile, Anthony Scaramucci, founder of Skybridge Capital, predicted BTC could peak at $170,000 in this market cycle.
At the time of writing, Bitcoin was trading at around $60,800, down more than 3% in the past 24 hours, according to . data From CoinMarketCap.
BTC price maintains support above $60,000 | Source: BTCUSD on Tradingview.com
Featured image from Bitcoin News, chart from Tradingview.com
