Will Bitcoin Hit $1,000,000?

**SPEAKER_1** (0:00)
I really do believe that you're going to have million-dollar Bitcoin. I think we're going to be at 200,000 before we know it. I think we're going to have a phenomenal fourth quarter. Fourth quarter is always incredible for cryptocurrency. It's always been incredible for Bitcoin. It's probably your best quarter of all. You take that with money supply exploding around the world right now. You take that, you add to the uncertainty. You take all the kind of fissures in the dam that are cracking right now. You better believe we're in the heyday of cryptocurrency, and we're only on the one-yard line with 99 yards left to go.

**SPEAKER_2** (0:28)
Will Bitcoin actually hit a million dollars? Not some analyst desk outlook. This is not if you squint at the stock to flow chart from 2019
I'm talking about a real seven-figure print on the screen here for Bitcoin's price. Is this asset capable of climbing all the way on up to a million dollars a token?
I'm talking, is it possible if Bitcoin could rise from where it's at right now, the mid $70,000 region, all the way up to a million bucks? That would be a 12 times move from where we're at. The tape this week is not some ETF commercial black rock and more inflows.
It's two quieter things that are happening in the background. First up is Stanley Druckenmiller's DeQuestne family office that just dumped Intel and Micron. They fully exited these positions. 411,000 shares of Intel, 23,000 shares of Micron, and they opened up new stakes in Bitcoin mining companies. This includes Bitdeer, Riot, Hud8, and Iron. Let this sink in for a second. This is not just some Telegram guy with laser eyes on the avatar. It's a $5 billion family office walking away from chip names that everyone spent two years screaming about. They're moving in to buying the companies that burn electricity to mint coins and rent leftover compute to AI shops. They're not even buying Bitcoin proper. They're buying the pickaxes and the building the pickaxes sit in. When you're moving in to mining companies, you're not waiting for the next giant green candle. You're infrastructurally positioning yourself in Bitcoin production for the long term. This is a bigger bet on power and land and dual use racks. And if this thesis actually does play out correctly, Bitcoin doesn't have to moon tomorrow or even the day after that for this trade to work. If Druckenmiller is incorrect about this move, you're going to watch an absolute legend make one of his first major mistakes. I would actually be betting that Druckenmiller is playing the market like a fiddle. This guy does not make mistakes. One of the most decorated investors out there that is now taking the unpopular position of moving in to Bitcoin mining infrastructure, I would not be betting against this man. He doesn't lose many bets. Another big piece of the undercurrent that is pushing Bitcoin towards this crazy price prediction is the story this next decade isn't going to be capital leaving gold for Bitcoin. It will be capital leaving treasuries for Bitcoin and gold. Bitcoin and gold are both positioning themselves very attractively against what treasuries can offer. The treasury yield is not outpacing or even keeping up with inflation. China is dumping treasuries at a record pace. We have countries across the planet that are getting ready to unwind their holdings of US treasuries. This is a capital movement that will be felt across the planet. Bitcoin and gold are uniquely positioned to capture the effects of people fleeing fiat currency and debt. Bitwise CEO Hunter Horsley laid it out last weekend in this post. This is a much different movie that crypto is telling us right now than it was in 2021 The old pitch was that digital gold eats physical gold, but the real pitch right now is that hard assets like Bitcoin and gold are what you reach for when your paper trail begins to look thin. When the paper of US treasuries begin to smell, and investors start to call out the bluff from the Federal Reserve that they're going to raise interest rates into an inflationary environment that we're trying to grow our way out of. And now the time frame for Bitcoin to hit a million dollars by 2030 in terms of one Bitcoin hitting a million dollars over the course of the next four years, that is a tough target to hit. I'm going to tell you, I do feel that Bitcoin is indeed going to a million dollars. My real time horizon for that is not 2030, and here's why. Each bull cycle Bitcoin grows by a little bit smaller of a margin. It's called diminished returns. And now if we're assuming that this recent 55, $57,000 mark is the bottom for Bitcoin in this local bear market, that means that on a diminished returns outlook, just running the math as normal, if things continue as we've seen them so far, that would leave you with a price target right at around $200,000 to $260,000 per token in 2029 Just to cut the difference, within 2029, if four-year cycle top-to-top-to-top matches, then you're looking somewhere around the September to October timeframe. Each one of these tops has taken about 1,400 days to reach, from cycle peak to cycle peak, over and over again on Bitcoin's cycle. So if you run that math out, 1,400 days from the recent peak would land you at October of 2029 Now, and here's the math, if Bitcoin hasn't shown its bottom yet. If Bitcoin's bottom is actually at the $40,000 mark, Bitcoin doomsday, and everyone's getting ready to buy Bitcoin at the absolute bottom together, that would mean that you're at an all-time high of the next bull cycle blow-off top should land right at around $170,000.