When will Bitcoin cost $1 million?

One of the favorite pastimes of financial analysts is making forecasts regarding the maximum price of Bitcoin.

For several years now, leading experts from banks and investment funds have been competing in forecasting the future price of the leading cryptocurrency.

The most optimistic forecast, however, is that Bitcoin will reach $1 million by 2030, 2033, or 2040.

Moreover, according to some financiers, a million dollars is far from the price limit Bitcoin can reach. For example, renowned American investor Cathie Wood predicts a maximum price of $1.5 million per coin.

But how realistic are these forecasts and how much could Bitcoin really be worth?

If you've already invested in an asset like Bitcoin, you'd certainly want to believe that one day it will be worth a million or even a billion dollars.

Unfortunately, Bitcoin is not a unique work of art, produced in a single copy. When predicting the coin's price, it's important to consider that there are 21 million coins in circulation, and if the price rises, each one will be worth $1 million.

That is, it is easy to calculate that capitalization in this case will be:

21,000,000 x 1,000,000 = 21,000,000,000,000 or 21 trillion American dollars.

Now let's move on to discussing whether cryptocurrency can attract such a huge amount of funds?

Today, Bitcoin's market capitalization is only $2.2 trillion, which is already an astronomical sum. But for the value of one coin to reach $1 million, people would need to invest another $19 trillion in Bitcoin—almost seven times more than the cryptocurrency's entire history.

For comparison, the current investment amounts in the most popular assets are:

• The real estate market has a total capitalization of approximately 350 trillion US dollars.
• The stock market, including all securities, is $ 110
• Gold – the value of the mined metal is approximately 20 trillion US dollars

How realistic is it that the market capitalization of just one cryptocurrency will surpass that of gold, which has been building for hundreds of years?

Investors simply don't have enough money to invest approximately twenty trillion dollars in the cryptocurrency market to drive Bitcoin's price to one million dollars. Moreover, fewer new potential investors are entering the cryptocurrency market every day.

Even if record growth does occur, it will take decades to achieve. It's entirely possible that the leading cryptocurrency's will reach $1 million, but only by 2050, not by 2030.

And if we talk about very real prospects, then this could be the mark of $150,000 per 1 coin, such a figure is quite achievable in the next couple of years.

The catalyst for this process could be Bitcoin's recognition as an official reserve asset by central banks, alongside gold. Or a stock market crash, which would force investors to redirect their funds elsewhere.