How high could Bitcoin go? According to Thailand’s former Prime Minister, Thaksin Shinawatra, the answer might surprise you: $850,000. While that prediction might sound ambitious, it’s part of a larger message he recently shared with the Thai government, urging them to take cryptocurrencies more seriously.
Thaksin’s advice is simple: adapt to the changing financial landscape, or risk being left behind. He isn’t calling for Thailand to start buying Bitcoin immediately. Instead, he’s pointing out the growing global shift toward digital currencies. As he put it, “There are already more cryptocurrencies than there are countries. In the future, the Thai people must understand this.”
So, why does he believe Bitcoin could reach such a massive value? While Thaksin didn’t go into detail, he seems convinced that Bitcoin will play a major role in the future of finance. Whether his prediction comes true or not, his confidence in Bitcoin’s potential is clear.
Thailand Testing Digital Currency on Massive Scale
Thailand has already started experimenting with digital currencies in interesting ways. In 2024, the country’s financial regulator, the SEC, introduced a “crypto sandbox.” This is a safe, controlled environment where companies can test new cryptocurrency technologies without worrying about breaking regulations.
Earlier this year, the Pheu Thai Party, currently in power, rolled out a unique economic stimulus plan. They distributed 10,000 baht (about $280) in digital currency to 45 million citizens. The initiative aimed to boost spending while introducing people to the concept of digital money.
Even major banks in Thailand are joining the crypto conversation. Kasikornbank, the country’s second-largest bank, has stepped up as an official custodian for digital assets. This means the bank now helps store and manage cryptocurrencies for its customers.
Clearly, Thailand is taking digital currencies seriously, and these efforts show how the country is not concerned of testing ways to integrate them into its economy.
Could Bitcoin Become Official Money in Thailand?
One idea that’s caught people’s attention is the possibility of making Bitcoin an official currency—at least on a small scale to start. There’s talk of testing this on Phuket, a popular island destination for tourists.
Thaksin mentioned that his daughter, Paetongtarn Shinawatra, who is currently Thailand’s Prime Minister, might ask the Ministry of Finance to look into whether Bitcoin could work as legal tender. If they move forward, Thailand could become the first country in Asia to recognize Bitcoin as official money.
Interestingly, the step might be more symbolic than it seems. The symbol for the Baht (฿) looks almost identical to the Bitcoin symbol (₿), making the shift feel like a natural fit.
It is obvious that Bitcoin is becoming a topic of interest for policymakers and national economies, whether it be in the United States, where there is speculation of Bitcoin as reserve asset, Argentina, El Salvador, Bhutan, or Thailand.
Should Thailand decide to move forward with plans to test Bitcoin as legal tender, it could open the door for other countries to do the same in the region. Nevertheless, it’s still early days, but Bitcoin is no longer on the sidelines since it hit the magical $100,000 this month, and a new all-time high of $106,449 on Sunday (ET).
Keep following us at HowToBuyBitcoin.org to see how Bitcoin adoption across the globe continues to happen.