Bitcoin hitting $100,000 used to feel like a distant dream. But now, in the end of November 2024, it’s more real than ever. The excitement is almost palpable—like the tension of a first kiss. You know something big could happen, and you can’t help but wonder if this is the moment.
And those same voices that called $100,000 are now predicting $1 million. Are they just dreaming, or is there something we’re all starting to see?
Bitcoin and its Game Changing Potential
Bitcoin is no ordinary asset. It has already redefined how wealth can be stored and transferred. Investors are beginning to realize it’s not just about catching up with gold; it’s about surpassing it. Bitcoin’s fixed supply of 21 million makes it uniquely scarce, unlike gold or fiat money, which can be endlessly inflated.
But Bitcoin’s value doesn’t stop at scarcity. It’s a decentralized currency/asset, censorship-resistant, global, and doesn’t require trusting banks or governments. You can transfer value instantly, no matter where you are, without middlemen or high fees.
If Bitcoin were to match gold’s market capitalization, we’d see its price rise to about $850,000. But the real competition isn’t just gold. Bitcoin is challenging the entire store-of-value market, including stocks, bonds, and real estate.
Why Bitcoin Outshines Traditional Assets
Traditional assets have limitations. Stocks rely on company performance and are vulnerable to dilution and market risks. Real estate comes with maintenance, taxes, and physical vulnerabilities. Bonds carry default and currency risks, with no fixed supply to offer stability.
Bitcoin, on the other hand, offers something fundamentally different. Its scarcity is absolute, and it doesn’t come with the baggage of maintenance costs or reliance on external factors. You can hold it securely for decades without losing value to decay or outside interference.
How High Could Bitcoin Go?
No one can predict the exact number, but all signs point to growing momentum. Institutional money is starting to flow into Bitcoin, with corporations and pension funds leading the charge. Even governments are quietly competing to accumulate it, which might lead to a global race to be among the first to do so. In the short-term, predictions are for a year-end price of up to $140,000 by popular analyst and creator of the Bitcoin stock-to-flow model, PlanB, to a long term, ‘conservative’ prediction of $13 million per coin by 2045 made by Michael Saylor, former CEO and current Chairman of MicroStrategy, the largest corporate holder of Bitcoin.
With a fixed supply and increasing demand, Bitcoin’s upward potential feels inevitable. As more people and institutions recognize its unique properties, the question shifts from if it will rise to how far it can go.
At time of writing, Bitcoin has moved back to $97,800 after dropping to under $96,000 over the weekend. The $100K mark is back into play.
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