Bitcoin (BTC) price prediction: Will Bitcoin reach $1 million by 2029?

As Bitcoin rose to the $100,000 level, it was evaluated that it was entering a long-term bull market. Ultra-strong prospects such as $1 million in 2029 and $250,000 this year are also being raised.

As Bitcoin (BTC) rises to the $100,000 level, it is being evaluated that it is entering a long-term bull market. Ultra-strong prospects such as $1 million in 2029 and $250,000 this year are also being raised.

BitMEX co-founder Arthur Hayes predicted in an interview on the 8th (local time) that Bitcoin will surpass $1 million before the end of Donald Trump's presidency in 2029 as global liquidity re-expansion begins in earnest. Trump's second term in office this year is until noon on January 20, 2029.

Hayes emphasized, "The strengthening of the virtual currency market will continue as the trust of the legal currency is weakened and the preference for rare assets is combined." He then argued, "The U.S. dollar will fall in value against gold and bitcoin, and U.S. government bonds are an investment destination to avoid."

Tim Drapper, a leading venture investor in Silicon Valley in the U.S., suggested in March that Bitcoin could reach $250,000 within this year if companies continue to buy.

Drapper said, "It is irresponsible for companies not to buy Bitcoin now," and predicted, "The corporate buying will raise the price of Bitcoin to $250,000 within this year."

Michael Saylor, founder of Strategy, the world's largest bitcoin holding company, said in an interview last week, "Bitcoin prices have yet to reach $150,000 because investors with short-term perspectives are leaving the market."

Saylor also said, "I was surprised that the U.S. government has changed rapidly in favor of Bitcoin in the last six months," adding, "Since President Trump issued an executive order to stockpile Bitcoin, ministers have been actively supporting the Bitcoin market."

Regarding the recent changes in Bitcoin investors, it analyzed that while the government, corporations, and bankruptcy trustees without long-term investment minds have recently sold in the price rebound section, new investor forces such as ETFs (traded funds) and bitcoin investment companies are entering the market.

He then stressed, "Now Bitcoin is being reorganized into an institutional and corporate-oriented market that is approached from a long-term perspective."

Meanwhile, Bitcoin is trading at around $104,000 on the morning of the 12th based on CoinGecko.