Stanford MBA Reveals Why Bitcoin Could Hit $10 Million
A cryptocurrency analyst and Stanford MBA explains why Bitcoin still has room to grow. In July 2024, Michael Saylor presented a chart showing Bitcoin's market value compared to the total global asset market.
At the time, Bitcoin was worth around $65,000 a coin, with a network value of $1 trillion. This represented just 0.1% of the total global asset market value of $900 trillion.
Since then, Bitcoin's market value has doubled to more than $2 trillion. The global asset market has grown to about $1 trillion. Bitcoin now accounts for 0.2% of total global assets, showing that it still represents a small portion of total assets.
Long-term growth and expert views
In a recent interview , Jesse Myers, Head of Bitcoin Strategy at Smarter Web, explained that Bitcoin's growth potential is still significant. Based on historical trends and market forecasts, he estimates that Bitcoin could grow by an average of 29% per year over the next 20 years. At current prices, a single cryptocurrency could reach $10 million.
Myers said the fixed supply of 21 million Bitcoins adds to the scarcity and value of the currency, explaining that Bitcoin is still in the early stages of adoption and has not yet captured a large share of global assets.
Factors supporting growth
Global wealth continues to grow each year, while inflation reduces the value of cash and bonds. Bitcoin offers an alternative that does not rely on government-backed currencies. Its scarcity and safety appeal to investors looking to preserve wealth.
Historical trends show that Bitcoin can grow rapidly in the short term and slow down over time, while still maintaining significant returns. As more institutional investors adopt Bitcoin, demand is likely to increase even further.
Conclusion
Even after its recent surge, Bitcoin still represents a small portion of total global assets. Experts like Jesse Myers argue that over time, Bitcoin could become a larger share of total global assets. Bitcoin’s fixed supply, growing popularity, and resistance to inflation are clear evidence of this. Projecting millions of dollars per Bitcoin is entirely possible for patient investors in the coming decades.