$1,000,000 Bitcoin Prediction Made by Satoshi Leading Candidate on This Date

In a recent tweet, Bitcoin historian Pete Rizzo highlighted a historic prediction made by Hal Finney, one of the first Bitcoin users and a leading candidate for Satoshi Nakamoto's true identity. According to Rizzo, Finney predicted a $1,000,000 Bitcoin price exactly 14 years ago.

On Feb. 10, 2011, Hal Finney, a computer scientist and the first to receive Bitcoin directly from Bitcoin's pseudonymous creator, Satoshi Nakamoto, said that Bitcoin may ultimately be valued at millions of dollars per coin. This forecast was predicated on Bitcoin’s potential to become a global currency.

Finney's prediction goes thus: "Bitcoin has the potential to become the dominant cryptocurrency worldwide. If this happens, bitcoin could be worth millions of dollars each."

At the time of writing, BTC was up 1.14% in the last 24 hours to $97,748 after reaching all-time highs of $109,114 on Jan. 20.

With Bitcoin recently surpassing $100,000, some believe that Finney’s prediction may not be as far-fetched as it once seemed. Finney's participation and insights remain etched in Bitcoin’s history, which has fueled speculation about his potential role in its creation.

Bitcoin short-term price prediction

FOMC members will speak on Tuesday, and the Fed Chair will testify, followed by the release of U.S. inflation data in midweek. According to the Glassnode cofounders, who go by negentropic on X, these two key macro factors might move the markets.

With Bitcoin attempting to reclaim the $97,200 to $98,500 zone, the Glassnode cofounders predict that the "$100,000 target isn’t far off," perhaps in the short term. They, however, believe that until there is clarity on macro data, choppy price action and position liquidations might persist.

In a separate tweet, "Negentropic" hinted that a pre-CPI move could be a fakeout, with the real market direction emerging after the data release. Also, the BTC futures-to-spot ratio is at yearly lows after a choppy price action with false breakouts and failed breakdowns.

Now, as BTC is trying to regain the $97,200 to $98,500 range, this remains a key base for $100,000. A spike in futures here could fuel more liquidations and price instability.