u.today
Scottie Pippen, one of the biggest NBA legends, has predicted that the Bitcoin price might hit $1 million.
You think you're late to Bitcoin because it hit $100,000.
— Scottie Pippen (@ScottiePippen) December 28, 2024
I think I'm early to Bitcoin because it's $1.7 Trillion Market Cap out of a total $900 Trillion in global assets.
Next stop, $1 MILLION $BTC 🔥
While Pippen might not seem like an authoritative voice in the world of crypto, his previous Bitcoin predictions were eerily prescient.
In September, for instance, the former professional basketball player claimed that Satoshi Nakamoto visited him in his dream to predict that Bitcoin would be trading above $84,000 on Nov. 5.
Bitcoin ended up surging above the aforementioned level on Nov. 11, meaning that Pippen's prediction was just slightly off.
The largest cryptocurrency is currently trading at roughly $95,000 on the Bitstamp exchange.
Of course, Pippen's eerily impressive prediction track record does not mean that Bitcoin is going to surge to $1 million in the near future.
This would mean that the cryptocurrency would need to surpass gold by market cap (assuming that the price of the yellow metal remains more or less stable).
Even ardent cryptocurrency bulls of the likes of Galaxy CEO Mike Novogratz believe that it would take Bitcoin from 5 to 10 years to achieve such a massive milestone.
Still, there are those who believe that the price of Bitcoin could soar to $1 million in the near future. As reported by U.Today, Jeff Park of Bitwise Invest recently opined that this could be possible if the U.S. government does create a Bitcoin reserve in 2025. However, he has a very low chance of this happening.
As reported by U.Today, Blockstream CEO Adam Back has also predicted that Bitcoin could match the market cap of gold in 2025.