It is not surprising how many people want to get rich through owning, trading, or leveraging bitcoin. And asking if 1 bitcoin can make you a millionaire is a fair question. There is a tremendous amount of talk of bitcoin realistically hitting a $400,000 price per coin which would make it equal to gold’s market cap. Anthony Pompliano has shared thoughts on bitcoin hitting $1,000,000 per coin is not too farfetched. In the below video I breakdown how this could happen, and please read a bit further below for more of a breakdown.
I feel confident in the 6 figure price targets during the 2020-2022 time horizon and see Bitcoin reaching the gold market cap over the next 4 years. The reason I believe this is because of the premiums of real estate, and stocks and where they are trading as of now (Jan 9, 2021), not to mention the continual drop in bond returns! Bonds are meant to be a safe haven consistent return to balance a portfolio, and bonds yields are negative. This will encourage money managers to move money into digital assets, and the only one that matters is bitcoin.
If interest rates continue to stay low, it is fair to assume that the government will continue to print money. The more money that is printed, the more money there is in circulation that is capable of being deployed and invested into Bitcoin. If Bitcoin does hit 1 million dollars per coin it is likely that the purchasing power will be much lower then, than what 1 million dollars can buy today in 2021. If we continue to see global adoption of corporations, billionaires, and sovereign nations like El Salvador (as of June 2021) I believe the changes of Bitcoin having a valuation and market cap of 10 trillion to 30 trillion as totally possible!
With the way investors are piling into Bitcoin like Ray Dalio, Paul Tudor Jones, Larry Fink (who is CEO of black rock who owns large %’s of all bitcoin miners, and MicroStrategy) I think one million per coin is realistic. I look at where people put their money, I don’t listen to what people say. We have a bond market that is collapsing and that alone is 130+ trillion dollars! Those who are patient are the only people who have a remote chance at experiencing what is possible.
Long story short, can 1 Bitcoin make you a millionaire? No one knows, but you need to have a low-time preference and hold your bitcoin as far into the future as you can if you do wish to find out of Bitcoin can in fact make you a millionaire by holding one coin. That said… HODL ON.