Despite Bitcoin’s retreat back below $100,000, its biggest fans continue to speculate about its longer-term potential — and a potential path to $5 million per coin.
Roundtable anchor, Rob Nelson, and Bitcoin conference mastermind BTC Inc. CEO David Bailey explored the asset’s price potential, volatility, and long-term outlook. The discussion ranged from predictions of bitcoin hitting several hundred thousand dollars to the possibility of it soaring to $5 million or more in the coming years.
Rob Nelson opened the conversation by addressing bitcoin’s price fluctuations after crossing significant milestones. “I told people it’ll dip; it might drop to the low $90s, that wouldn’t be shocking,” Nelson remarked. “It’ll go back up; It’s not going to plummet. I don’t think 10 percent volatility within a new asset like that is crazy at all. I think that’s a pretty reasonable range over the course of a week.”
Bailey echoed this sentiment, emphasizing that volatility is inherent to bitcoin’s growth. “Volatility is vitality,” Bailey stated. “Bitcoin is arguably the most valuable asset in the world… It should go up a hundred times in value. You’re not able to have an asset go up a hundred times in value without volatility, 10 percent is nothing.” He recalled earlier cycles when swings of up to 50% in a single day were common.
As discussions turned to bitcoin’s long-term value, Nelson posed the provocative question of whether bitcoin could reach $5 million. “Is it insane to think what if bitcoin’s at $5 million at the end of next year?” he asked, pressing Bailey for insight on factors that could limit or propel such growth.
Bailey predicted a strong upward trajectory, contingent on political and economic factors. “By the end of the year, we’re going to see several-hundred-thousand-dollar bitcoin prices,” he forecasted. “If Trump signs the executive order for the SBR (strategic bitcoin reserve), I think… by the end of his administration, we see $1 million bitcoin prices.” Bailey suggested that while $5 million isn’t unrealistic, the strain on liquidity from significant asset holders might slow vertical growth.
He highlighted Michael Saylor’s perspective as a benchmark. “Michael Saylor’s mid-range case is one bitcoin equals $13 million by the year … 2045,” Bailey noted, underscoring bitcoin’s immense potential. Yet, he added that central bank adoption could accelerate these targets.
Bailey concluded with an optimistic outlook: “I’m bullish on bitcoin— short-term, mid-term, and long-term, it’s a good time to buy.” As bitcoin continues to evolve, its supporters remain steadfast in their belief in its revolutionary potential, despite its unpredictable nature.
Michael Saylor announced Monday that MicroStrategy had bought another $243 million in Bitcoin to add to its stash of 450,000 coins.