Unveiling the First Person Who Predicted Bitcoin Could Reach $10 Million!
New data reveals that the very first bold forecast of Bitcoin potentially hitting $10 million per coin was made by an individual close to Satoshi Nakamoto.
Discover the Visionary Behind the $10 Million Bitcoin Prediction
According to @Vivek4real_, the initial prophecy of Bitcoin surging to $10 million was none other than Hal Finney, the recipient of the first Bitcoin transaction from the mysterious Satoshi Nakamoto himself.
Although some speculate that Hal Finney was the true identity of Satoshi, his passing a decade ago leaves this question unanswered. Diagnosed with ALS in 2009, the cypherpunk passed away at the age of 58 on Aug. 28, 2014.
In a post on X, @Vivek4real_ shared a screenshot of Finney’s letter outlining the conditions for Bitcoin to skyrocket to $10 million per coin. For this to occur, Bitcoin must become the dominant global payment system, matching the total value of wealth worldwide.
In 2009, global household wealth ranged from $100 to $300 trillion. Dividing this by 20 million (Finney’s chosen figure instead of the total Bitcoin supply of 21 million) would value each BTC at around $10 million.
Finney also noted that mining Bitcoins with minimal compute time could yield a significant return, akin to $100 million to 1.
Bitcoin’s Path to $10 Million in 21 Years
During an appearance on CNBC’s Squawk Box, Michael Saylor, Bitcoin advocate and MicroStrategy executive chairman, echoed a similar forecast. Saylor anticipates Bitcoin reaching $10 million in 21 years, once it captures about 7% of the gold market, a substantial increase from its current 0.1% share.
Many within the Bitcoin community stand behind this bullish outlook.
Analysis:
This article delves into the origins of the bold prediction that Bitcoin could reach $10 million per coin, tracing it back to Hal Finney, a figure closely associated with Satoshi Nakamoto. The piece highlights Finney’s vision for Bitcoin to become a dominant global payment system, aligning its value with the total wealth of the world. Additionally, it mentions Michael Saylor’s similar forecast for Bitcoin’s future growth. Overall, the content provides insights into the potential long-term trajectory of Bitcoin’s value and its implications for investors and the broader financial market.