Brian Armstrong, CEO of Coinbase, just made a bold prediction: Bitcoin will hit $1 million by 2030. Yes, a million bucks for a single BTC. But before we start packing our bags for the moon, let’s take a breather because not everyone’s buying into this dream just yet.

Armstrong made his prediction during a chat on the “Cheeky Pint” podcast, pointing to clearer regulations in the US and the recent passing of the Genius Act for stablecoins as potential drivers. The US, he says, is the “bellwether for the rest of the G20”—meaning whatever happens here could set the tone for the rest of the world. After all, the US has been making strides with Bitcoin-friendly policies, including the creation of the US Strategic Bitcoin Reserve. Five years ago, Armstrong says, this would have sounded crazy, but now, it’s a reality.

On top of that, Eric Trump also weighed in, suggesting at the Wyoming Blockchain Symposium that there’s “no question” Bitcoin will hit $1 million in a couple of years. Sounds like the crypto world’s version of a cheerleader moment, right?

Bitcoin’s Recent Dip

James McKay, a crypto analyst at McKay Research, isn’t exactly on the same page. He told investors to slow their roll and focus on hitting $124K first. He made this comment after Bitcoin recently hit a high of $124,128 before falling back by about 9%. McKay’s not saying Armstrong’s $1 million prediction is wild, after all, even Standard Chartered is predicting $500K by 2028, but he’s more in the “let’s walk before we run” camp.

McKay brings up some valid points. There are still some bumps in the road for Bitcoin. The US Federal Reserve might delay rate cuts, and if the next US president isn’t as crypto-friendly, that could put a damper on things. But on the flip side, Bitcoin’s rally could be bolstered by institutional demand, Bitcoin treasuries, and the ever-growing interest in Bitcoin ETFs. So, yeah, it’s possible, but let’s not start buying Lambos just yet.

Bitcoin’s $1 Million Dream

It’s not just Armstrong throwing around million-dollar predictions. Cathie Wood, CEO of ARK Invest, said Bitcoin could reach $1.5 million by 2030 in her “Bull Case” scenario. Meanwhile, Jack Dorsey, Twitter’s co-founder, boldly stated that $1 million per BTC is inevitable by 2030, with the potential for even higher prices.

But not everyone is convinced the million-dollar mark is a good thing. Galaxy Digital’s CEO Mike Novogratz thinks if Bitcoin hits $1 million too soon, it would signal serious trouble for the US economy. In his words, “It only gets there if we’re in such a shitty place domestically.” That’s some tough love, but he might have a point.

Time Will Tell

So, what’s the takeaway? Well, in my opinion, Bitcoin’s journey to $1 million is a long, bumpy road, but not impossible. Yes, we’ve seen some huge strides in crypto regulations and institutional adoption, but there are still too many potential risks ahead to say it’s a done deal. Like McKay said, let’s focus on keeping Bitcoin above $124K before we start planning for the big $1 million party. But hey, anything’s possible in the world of crypto, right?

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