Bitcoin to $1M by 2030 is ‘mathematically impossible’ says Markus Thielen
The trillions required to boost Bitcoin to a price of $1 million per coin is not going to happen by 2030... or perhaps ever, says party pooper Markus Thielen.
Markus Thielen, head of research at 10x Research, has dismissed the widely-cited prediction that Bitcoin could reach $1 million per coin by 2030, describing it as "mathematically impossible". Thielen argues that the trillions of dollars required to boost Bitcoin's price to that level simply do not exist and would not materialize within the next four years.
According to Thielen, Bitcoin's historical inflow of capital over the past 15 years is nowhere near the astronomical sum needed to reach a price of $1 million, which would be 15 times its current market cap. At present, Bitcoin's market cap is approximately $1.28 trillion, with its price trading at around $63,868. Thielen estimates that Bitcoin would need another $15 trillion in capital to reach a per Bitcoin price of $1 million, equivalent to roughly 25% of the US stock market's total value.
Thielen warns that the higher Bitcoin's price goes, the weaker retail sentiment becomes, as investors demand to own a whole unit of an asset rather than fractions of it. He advises Bitcoiners to temper their expectations, noting that the $126,000 all-time high may take longer to return than many anticipate, suggesting a $100,000 price point as a more reasonable goal.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
