Bitcoin price ‘will certainly be’ $1 million by 2030 with surging trend, CEO says
In a recent interview with “Altcoin Daily,” Real Vision CEO Raoul Pal outlined a $1 million bitcoin price projection based on the growth of digital asset wallets.
“Let’s say it goes from 175% a year where it’s been trending, and goes to 43% a year, which is what the internet did from year-eight onwards,” Pal said in the video above. “Well, crypto gets to a billion people by the end of next year, a billion active wallets. And it gets to 4 billion by 2030. Well, at 4 billion (wallets) the price will certainly be $1 million.”
Perspective: It’s difficult to pinpoint the exact adoption rate of crypto around the world, though a recent survey of consumers in 50 countries worldwide indicate that adoption is largely growing. Pal added that, as a flagship of one of the fastest-growing asset classes in the world, bitcoin is on an inevitable path toward higher prices.
“Crypto is going twice the speed of the internet in terms of adoption,” Pal said. “So, it’s the fastest adoption of any technology in any asset class the world has ever seen.”
More details: Pal added that his adoption estimation is based on the number of active crypto wallets and conceded that this figure is “not a perfect proxy” as investors can hold multiple wallets and not all crypto holdings can be publicly verified.
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But, his larger point was, that as many metrics demonstrate significant growth for digital asset adoption, the comparison to the adoption of the internet “just directionally gives you an idea.”
Key takeaways: Pal also conceded that a $1 million bitcoin price projection “sounds as ridiculous today” as it did when he first invested in bitcoin at a $200 price. At the time, he projected the asset would rise to $100,000, a possibility that he recalled as being largely dismissed.
“So, the $1 million doesn’t seem that preposterous.”
The context: Overall crypto adoption and the bitcoin price are not inherently linked, but bitcoin continues to be the market leader for digital assets, and it stands to reason that adoption continues to be led by the flagship asset.
Bitcoin’s market cap represents more than 55% of the entire crypto market as of this writing.
The content of this article is not meant to constitute financial advice.
