The numbers behind the oft-cited prediction that Bitcoin will reach $1 million by 2030 simply don’t add up, according to Markus Thielen, head of research at 10x Research.
“It’s mathematically impossible,” Thielen tells Cointelegraph on Trade Secrets, arguing that Bitcoin’s historical capital inflows over the past 15 years fall far short of the amount it would need to attract over the next four years to reach $1 million. “We have seen $1 trillion US dollars of inflow to bring the market cap really to $1 trillion. To $1 million [per] Bitcoin. It’s 15x, I think, from here,” Thielen says.
At the time of publication, Bitcoin’s market cap is around $1.28 trillion, with its price trading at $63,868, according to CoinMarketCap.
Thielen estimates that Bitcoin would need to attract another $15 trillion in capital to reach a per Bitcoin price of $1 million. This is equivalent to roughly 25% of the US stock market’s total value…
