Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Here’s What Could Drive Bitcoin to a $1 Million Valuation

Here’s What Could Drive Bitcoin to a $1 Million Valuation

CryptodnesCryptodnes2024/12/07 22:11
By:Cryptodnes

The CEO of CryptoQuant, Ki Young Ju, has highlighted a key factor that could push Bitcoin (BTC) to a staggering $1 million valuation.

Ju argued that Bitcoin surpassing gold as the dominant safe-haven asset is not a question of “if” but “when.”

He explained that gold’s market cap in 2004 was $1 trillion, prior to the introduction of gold ETFs. Today, that figure stands at $17.8 trillion, with the majority attributed to its role as a hedge against inflation and a store of value.

Ju suggested that Bitcoin, currently valued at $2 trillion, has the potential to grow exponentially if investor demand shifts from gold to BTC. He believes such a shift could result in a 750% increase in Bitcoin’s market cap, propelling its price to $1 million.

READ MORE:
Bitcoin ETFs Surpass Satoshi Nakamoto as Largest Holders of BTC

He also predicted that discussions about Bitcoin overtaking gold could become mainstream within five years. Ju added that Bitcoin has yet to enter bubble territory, even after recently surpassing $100,000 for the first time.

With fresh capital flowing into the market, the realized cap has continued to grow, keeping Bitcoin far from the bubble threshold. He noted that the asset would need to climb another 43% to reach that point, signaling plenty of room for further growth.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!