Bitcoin to $1 Million by 2030? 'Almost Certainly Not,' Industry Bigwig Says

Bitcoin (BTC) could potentially hit a price of $300,000 to $400,000 by 2030, however, a $1 million target appears unattainable, according to Haseeb Qureshi, managing partner of Dragonfly Capital. During an interview on Cointelegraph’s Trade Secrets, Qureshi stated that reaching that level would necessitate an overwhelming surge in capital.

On the same show, Qureshi attributed Bitcoin's recent weakness to macroeconomic instability, the surge in stablecoins, and the decline in AI stocks. He also questioned the expectation of Bitcoin reaching $100,000 by the end of 2026, suggesting that a 30% rally would be challenging given the current economic climate. Qureshi noted that Bitcoin and Ethereum (ETH), along with stablecoins, have received broad U.S. regulatory approval, while the stalled Clarity Act primarily impacts altcoins, DeFi, and exchanges.

He linked Bitcoin's decline to broader market losses, with the Nasdaq falling by over 5% and several AI stocks dropping 15%–20%. Qureshi warned that restrictions on data center construction could dampen AI spending and economic growth. He believes Bitcoin will remain volatile until AI investment and economic conditions stabilize.

Regarding Bitcoin's potential to replace gold, Qureshi thinks it could challenge gold over the next 15–20 years, thanks to its fixed supply of 21 million compared to gold's potentially expandable supply. He cautioned that advancements in AI and cryptography could introduce security risks, despite Bitcoin's scarcity and increasing adoption supporting its long-term prospects.