Ex-Twitter CEO Jack Dorsey Says Bitcoin Will Reach $1 Million, Here’s When
11 Mayo 2024 - 11:00AM
NEWSBTC
Jack Dorsey, the former CEO of X (formerly Twitter) has predicted
when Bitcoin will reach $1 million. The tech entrepreneur is a
familiar figure in the crypto space and is known to be heavily
invested in the flagship crypto. When Bitcoin Will Hit $1
Million In an interview with Pirate Wires, Dorsey mentioned that
BTC could hit $1 million in 2030 and beyond. In addition to
predicting Bitcoin’s future trajectory, Dorsey took time to
appreciate the Bitcoin ecosystem. He remarked that besides its
history, “the most amazing thing about Bitcoin” is how those who
work on it, earn from it or invest in it all contribute to making
the ecosystem, which in turn causes Bitcoin’s price to go up.
Related Reading: Ethereum Foundation Moves 1,000 ETH – Is The Top
In? Dorsey further claimed that Bitcoin is a “fascinating ecosystem
and movement” and that he has learned a lot from it. Based on his
assertion, the tech entrepreneur is undoubtedly one of those
contributing to the growth of the Bitcoin ecosystem. Dorsey and his
digital payments company, Block, already hold over 8,000 BTC.
His company also recently announced plans to begin investing 10% of
its monthly Bitcoin-related gross profits in buying more BTC. This
investment plan could lead to the company investing as much as $24
million in BTC one year from now. It is also worth mentioning that
Dorsey has been actively looking to build in the Bitcoin
ecosystem. It was previously reported that the former Twitter
CEO was planning on building a decentralized exchange (DEX) for
Bitcoin. More recently, Dorsey’s Block announced that they had
completed a BTC mining system they had been working on since April
2023. BTC Hitting $1 Million Could Be This Year The CEO
of Jan3 and Bitcoiner Samson Mow shares a contrary opinion with
Dorsey. He predicted before now that Bitcoin could reach $1 million
before the end of this year. Mow alluded to the increasing demand
for Bitcoin as why he holds such a belief. The crypto founder
suggested that this prediction would likely be attained next year
if it didn’t happen this year. Related Reading: Crypto Analyst Sets
$10 Price Target For Cardano As Volume Jumps 90% Crypto analyst
PlanB also believes that next year is a more feasible timeline for
BTC to reach this price level. He stated that $1 million could be
the market top for BTC in this bull run based on the Bitcoin
stock-to-flow (STF) indicator, which hinted at $500,000 being the
average price for BTC in this market cycle. Other crypto
analysts have given more conservative price predictions for this
bull run. CryptoQuant’s CEO Ki Young Ju recently predicted that BTC
could hit $265,000. Meanwhile, Anthony Scaramucci, the founder of
SkyBridge Capital, predicted that BTC could peak at $170,000 in
this market cycle. At the time of writing, Bitcoin is trading
at around $60,800, down over 3% in the last 24 hours, according to
data from CoinMarketCap. BTC price maintains support above $60,000
| Source: BTCUSD on Tradingview.com Featured image from Bitcoin
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