2024-12-30 23:34 |
NBA Hall of Famer and Chicago Bulls great Scottie Pippen has pointed to the ambitious $1 million mark as the next significant price level in the current bull cycle. Here’s why the price of the world’s largest and oldest crypto is headed above the oft-discussed $1,000,000 threshold.
$1 Million BTC Could Be On The Horizon, According To PippenWhile some pundits are warning of more pain in the crypto market as the United States Federal Reserve signaled fewer rate cuts for next year while clarifying that it prohibits state holdings of BTC and doesn’t seek a change in the law to do so, Scottie Pippen remains incredibly bullish about the price of Bitcoin.
In a recent post on X, the former NBA star noted that investors are not late just because Bitcoin soared past the long-coveted $100K mark. According to him, the top crypto is primed to hit a staggering $1 million per coin.
“I think I’m early to Bitcoin because it’s $1.7 Trillion Market Cap out of a total $900 Trillion in global assets. Next stop, $1 MILLION $BTC.”
https://twitter.com/ScottiePippen/status/1873130534718849452While Pippen might not seem like a key figure in the cryptosphere, his previous Bitcoin forecast was bizarrely precise.
As ZyCrypto reported previously, the six-time NBA Champion claimed that the pseudonymous Bitcoin creator Satoshi Nakamoto visited him in a dream and told him that BTC would surge above $84,000 on Nov. 5. BTC ended up reaching the $84K mark on Nov. 11, indicating that Pippen’s prognosis was just slightly off.
At $1 million, Bitcoin would be a $24 trillion asset class, making it eight times bigger than Apple, the world’s largest company by market capitalization, and roughly 1.6 times bigger than gold’s market cap.
Similar $1 Million BTC Price Targets$1 million per Bitcoin is obviously a lofty target. However, for years, this price has been forecasted by popular analysts across the traditional finance and crypto industry.
ARK Invest Cathie Wood, for instance, maintains her prediction that the price of BTC will rocket to $1 million by 2030, noting that major investment banks such as Morgan Stanley, Merryl Lynch, and Bank of America will likely enter the Bitcoin space.
Moreover, Bitwise Invest’s head of alpha strategies, Jeff Park, recently forecasted that the Bitcoin price could hit $1 million in 2025 if the U.S. establishes a strategic national Bitcoin reserve.
“That’s the only math in which Bitcoin can hit $1mm+ in 2025 when it happens,” Park postulated.
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