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An investor who acquires 0.1 BTC for $9,500 at the current market price could become a millionaire if Bitcoin hits eight figures.
Bitcoin has outgrown its early days when prices were in a few dollars and has matured into a global store of value. Spurred by bullish macroeconomics, the pioneering cryptocurrency recently reached a six-figure valuation, hitting a new all-time high of $108,000.
Meanwhile, some believe holding 0.1 BTC can still produce a staggering 10,426% growth to $1 million despite its historic gains. This theory suggests that the asset still has more room for growth. Here’s how high Bitcoin needs to reach to attain this valuation and why analysts think it is possible.
Turning 0.1 BTC to $1M
Bitcoin currently hovers around $95,000 at press time, recovering from a downside that saw it drop under $90,000. Currently, 0.1 BTC is worth $9,500.
Notably, for 0.1 Bitcoin to reach a $1 million valuation, the crypto firstborn needs to hit $10,000,000 per coin. Although the valuation seems ambitious, Bitcoin’s historical trajectory and future outlook suggest it is theoretically possible.
Meanwhile, there are predictions that Bitcoin will surge to $10 million per coin. For context, Robert Kiyosaki, author of Rich Dad, Poor Dad, predicted that Bitcoin would hit $10 million in the near future, according to a Forbes report.
Maximalist Michael Saylor believes Bitcoin will have more upsides after $10 million, predicting a surge to $13 million by 2045. The evangelist thinks Bitcoin will capture 7% of the global wealth in the next 20 years, culminating in the ambitious target.
Growing Adoption to Drive Bitcoin’s $10M Prediction
If Bitcoin is to hit $10 million per coin, adoption would play an integral part in the lofty surge. Using basic economics, a growing demand and a fixed supply result in a price uptick.
Notably, Bitcoin’s supply is limited, hence its “digital gold” tag. The pioneering cryptocurrency has a total supply cap of 21 million, and 19.8 million are already in circulation.
As a result, mainstream adoption will significantly impact its price, making the $10 million prediction feasible. Meanwhile, the asset has already started coming to the limelight with growing global adoption.
For context, states and corporate firms in the United States are vigorously craving exposure to Bitcoin amid the growing momentum of adoption at the national level. On the state level, Pennsylvania, North Dakota, New Hampshire, Florida, Texas, and Alabama are contemplating proposals to adopt Bitcoin as a strategic reserve asset.
The FOMO from MicroStrategy’s incessant acquisition has reached other corporate entities, who are now buying into Bitcoin. For instance, Rumble, Matador, Kurl Technologies, and Thumzup have all created a strategic Bitcoin reserve, buying millions worth of the premier asset.
With the incessant purchases and the growing adoption even among nations, Bitcoin to $10 million could come in sooner than expected.