Jack DorseyThe former CEO of x (formerly twitter) has predicted when bitcoin will reach $1 million. The tech entrepreneur is a familiar figure in the crypto space and is known to have invested heavily in the flagship cryptocurrency.
When bitcoin will reach $1 million
in a interview On Pirate Wires, Dorsey mentioned that btc could reach $1 million by 2030 and beyond. In addition to predicting bitcoin's future trajectory, Dorsey took the time to appreciate the bitcoin ecosystem. He commented that in addition to its history, “the most amazing thing about bitcoin” is how those who work on it, earn from it or invest in it contribute to creating the ecosystem, which in turn causes the price of bitcoin to rise.
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crypto-transactions/” rel=”nofollow”>Dorsey He further stated that bitcoin is a “fascinating ecosystem and movement” and that he has learned a lot from it. According to his statement, the technology entrepreneur is undoubtedly one of those contributing to the growth of the bitcoin ecosystem. Dorsey and his digital payments company, Block, already own more than 8,000 btc.
Your company too bitcoin-profits-into-monthly-buys/” rel=”nofollow”>recently announced plans to start investing 10% of his monthly bitcoin-related gross profits into purchasing more btc. This investment plan could lead the company to invest up to $24 million in btc within a year. It's also worth mentioning that Dorsey has been actively looking to build on the bitcoin ecosystem.
Was previously reported that the former twitter CEO was planning to build a decentralized exchange (DEX) for bitcoin. More recently, the Dorsey Block Announced that they had completed a btc mining system that they had been working on since April 2023.
btc could reach $1 million this year
The CEO of Jan3 and Bitcoiner bitcoin-swift-rise-to-1-million/” rel=”nofollow”>Samson cut shares a contrary opinion with Dorsey. He foretold So far, bitcoin could reach $1 million before the end of this year. Mow alluded to the growing demand for bitcoin as the reason why he holds such a belief. The cryptocurrency founder suggested that this prediction would likely be achieved next year if it did not happen this year.
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bitcoin-breaks-70000-barrier-investors-speculate-on-100000-target-for-2024/” rel=”nofollow”>PlanB crypto analyst He also believes that next year is a more feasible timeline for btc to reach this price level. He claimed that $1 million could be the market high for btc in this bull run based on bitcoin's stock-to-flow (STF) indicator, which hinted that $500,000 was the average price of btc in this market cycle.
Other crypto analysts have given more conservative price predictions for this bull run. Ki Young Ju, CEO of CryptoQuant recently predicted that btc could reach $265,000. Meanwhile, Anthony Scaramucci, founder of SkyBridge Capital, bitcoin-could-reach-170000-post-halving/” rel=”nofollow”>foretold that btc could reach a high of $170,000 in this market cycle.
At the time of writing, bitcoin is trading at around $60,800, down more than 3% in the last 24 hours, according to bitcoin/” rel=”nofollow”>data from CoinMarketCap.
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btc price maintains support above $60,000 | Source: BTCUSD on Tradingview.com
Featured image from bitcoin News, chart from Tradingview.com
