Former Twitter CEO Jack Dorsey has expressed his optimism about the future value of Bitcoin, predicting that it could surpass $1 million by 2030. In an interview with tech journalist Mike Solana, Dorsey highlighted the collaborative nature of the Bitcoin community as a key factor in his positive outlook for the next decade.
When asked about his projection for Bitcoin in 2030, Dorsey responded with some humor but ultimately stated that he believes Bitcoin could reach “at least a million” within the next six years and potentially exceed that figure by 2030.
Dorsey also emphasized that while the price of Bitcoin is intriguing, its most remarkable aspect is its collaborative nature. He believes that the collective efforts of everyone working on Bitcoin contribute to the overall improvement of the ecosystem, which in turn drives higher price targets.
Since stepping down as CEO of Twitter, Dorsey has been increasingly focused on Bitcoin. His financial services firm, Block, has committed to allocating 10% of its Bitcoin-related revenue to acquire more Bitcoin.
It is worth noting that Dorsey is not the only industry commentator who is anticipating a $1 million price for Bitcoin. Other experts, including Cathie Wood of Ark Invest, financial author Robert Kiyosaki, and Michael Saylor of MicroStrategy, share a similar bullish sentiment. They believe that as more institutional investors consider Bitcoin as a digital equivalent of gold, its value will continue to rise.
At present, Bitcoin is trading at $62,387, with a return of over 121% in the past year. It reached a high of $73,750 two months ago, pushing its valuation over $1.45 trillion.
To reach the $1 million target by 2030, Bitcoin would need to increase by 1,502%. With a stable supply of 19,696,421 coins, this would put its valuation at approximately $20 trillion. Considering that Bitcoin typically represents over 50% of the total cryptocurrency market cap, the global crypto market could exceed $40 trillion by 2030.
By the time 2030 arrives, Bitcoin would have undergone its fifth halving cycle, expected to occur in 2028, with a subsequent bull market anticipated the following year. Current projections for Bitcoin’s value during this ongoing season range from $150,000 to $250,000.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The views expressed are based on the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.