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The Truth About Bitcoin: Why it Will Hit $1 Million
I talked about before how Bitcoin getting an ETF really impacted its value and given that it recently broke its previous all-time high record (from $63,000 to $66,000), it looks like it might hit heights we didn’t expect.
In fact, according to the stock-to-flow model, Bitcoin is projected to surpass $1 million by mid 2025. How do we figure this out?
This stock-to-flow model is meant to sort of “predict” future prices of various commodities — such as silver (which Bitcoin is expected to surpass sometime in the near future). So, this stock-to-flow model shows that, not only can we expect $1 million in a few years — chances are we can get to $135,000 by the end of the year.
In fact, according to the stock-to-flow model, our previous HOPE of Bitcoin reaching $100,000 by the end of 2021 is actually on the low end. A more optimistic prediction shows that Bitcoin could reach $450,000.
That sounds like a long shot, but EVERYTHING just changed for Bitcoin. This huge push, as I talked about before, is likely because of the recent Bitcoin ETF. The ETF allows day traders to invest in Bitcoin using a traditional brokerage instead of a crypto one. Now everyone from hedge fund managers, to retail investors, to pension funds can now start buying Bitcoin — and they probably will.