What drove the price in 2025?
Bitcoin has already broken boundaries that sounded unrealistic to many. What pushed the price towards new records in 2025 is still fresh and quite clearly visible in the market.
One of the key triggers was spot Bitcoin ETF products, launched in early 2024. BlackRock and their iShares Bitcoin Trust ETF have attracted the most attention. By mid-2025, U.S. Bitcoin ETFs had withdrawn about $14.8 billion in net inflows. BlackRock’s fund alone raised more than $1.3 billion in just two days. This was a clear signal that institutional capital was seriously entering Bitcoin.
The second big moment came from politics. In March 2025, U.S. President Donald Trump signed an executive order establishing Strategic Bitcoin Reserve. The reserve was formed with about 200,000 BTC. The market took this as an open message that the state sees Bitcoin as a legitimate asset, and not just as speculation. Investor confidence has further increased.
The positive sentiment continued during Crypto Week in Washington in July 2025. During this period, Bitcoin jumped to a new all-time high of $123,166. At that point, it was clear that the combination of ETF demand, institutional money, and political support was having a real impact on the price.
Source: cointelegraph
Is the price of 1M even possible?
The question about the price of a million dollars per Bitcoin no longer sounds like pure fantasy. It is still an extreme scenario, but there are several real factors that go in that direction. It doesn’t mean it’s going to happen quickly, but it does mean that the market has the logic behind that thesis.
Limited Offer
Bitcoin has a fixed supply of 21 million coins. It’s a hard limit that can’t be changed. As demand rises and new BTC enters more slowly due to halving, the pressure on the price is natural. Unlike fiat currencies, there is no additional printing. That is why many people look at Bitcoin as a digital store of value, similar to gold.
Institutional capital
The entry of large financial institutions has changed the structure of the market. Bitcoin is no longer just a retail story. When funds, banks and asset managers start allocating capital, demand grows faster than supply can keep up. This reduces volatility in the long run, but also pushes the price towards higher levels.
Expansion of adoption
Currently, about 6.8 percent of the world’s population owns some cryptocurrency. That’s more than 560 million people, with an annual growth estimated at around 34 percent. In the context of the global financial market, this is still an early stage. If adoption continues at this pace, the market has a lot of room for growth.
The combination of limited supply, stronger institutional demand and growing adoption does not guarantee 1M, but it clearly shows why this idea is no longer completely unrealistic.
Source: cointelegraph
Who believes Bitcoin could reach 1M?
The idea of a million dollar Bitcoin doesn’t just come from Twitter and forums. It is openly advocated by people who have been following markets, capital and monetary trends for years.
Cathie Wood is one of the most vocal proponents of Bitcoin among institutional investors. Through her firm ARK Invest , she put forward a so-called bull case scenario according to which Bitcoin could reach around $1.5 million per coin by 2030. This scenario is based on strong adoption and a higher share of Bitcoin in institutional portfolios.
Michael Saylor, the founder and main face of Strategy, has had a clear stance for years. According to him, Bitcoin is heading towards a price of $1 million at the moment when Wall Street allocates about 10 percent of its reserves to BTC. Saylor does not view Bitcoin as a trade, but as a long-term monetary asset and the foundation of digital capital.
Robert Kiyosaki has a similar view. He has been warning about inflation and the weakening of fiat currencies for years. He sees bitcoin as a protection of value, along with gold and silver. According to his estimates, the price of 1M by 2030 is not unrealistic if the trend of loss of confidence in the classical monetary system continues.
What all these views have in common is not short-term speculation, but a long-term change in the way capital views money, value, and asset protection.
Source: cointelegraph
What does it take for Bitcoin to reach 1M?
The price of a million dollars per Bitcoin does not come by itself. For this to happen, the market must go through several major changes. Most of them have already started, but they are not even close to completion.
A much larger amount of institutional capital
For Bitcoin to be worth 1M per coin, its total market cap value would have to exceed $21 trillion. This would mean that it surpasses gold as the largest store of value in the world.
According to estimates often repeated by Michael Saylor, it is enough for Wall Street to allocate about 10 percent of its reserves to Bitcoin for the market cap to approach the $20 trillion level. This would bring the price very close to 1M.
The problem is that institutional capital still makes up a smaller part of the market. Less than 5 percent of Bitcoin ETF funds are held by long-term institutional investors. Most of the volume is still carried by retail.
Global Adoption
1M Bitcoin requires mass adoption. Estimates say that between 20 and 40 percent of the world’s population would have to use or hold Bitcoin. That’s between 1.6 and 3.2 billion people.
It’s not just a question of price. Better infrastructure, simpler wallets, more education and clearer rules of the game are needed. Without it, adoption can hardly go beyond enthusiasts and investors.
Stable and clear regulation
Regulation has a major impact on capital. When the rules aren’t clear, a lot of money is on the sidelines. During 2025, important steps were made through laws such as the GENIUS Act and the Clarity Act, which brought more concrete frameworks for digital assets.
Such moves reduce risk for institutions and open the door to long-term investments. Without regulatory stability, the story of 1M remains a theory.
Technological development
Although Bitcoin is increasingly seen as a store of value, technology still plays an important role. Solutions like the Lightning Network allow for faster and cheaper transactions, which is crucial for scaling.
Without technical improvements, Bitcoin remains slow and expensive to use on a daily basis. In the long run, this limits adoption and reduces the chances of extreme valuations.
All in all, it shows that 1M is not impossible, but it requires profound changes in capital, user behavior and the global financial system.
Source: cointelegraph
What Will Happen If Bitcoin Reaches 1M?
If Bitcoin really reaches the million dollar price, the consequences will be great. Not only for the market, but also for power relations within the financial system. Someone will profit extremely, and someone will enter too late.
Winners: early investors
In a Bitcoin 1M scenario, the value of existing BTC holdings explodes. It is already evident today how uneven the distribution is.
About 900,000 wallet addresses hold at least 1 BTC, while approximately 4 percent of the world’s population owns some amount of Bitcoin. At the same time, a large part of the total offer is in the hands of a relatively small number of individuals and institutions.
One of the biggest winners would be the company Strategy. If Bitcoin reaches 1M, their current BTC holdings would be worth more than $600 billion. This is the level at which a company becomes a financial player of global importance.
Early retail investors would also do extremely well. People who bought Bitcoin at prices of a few cents or a few dollars would watch their coins turn into multi-million dollar assets. Such returns are virtually non-existent in traditional markets.
A special story is Satoshi Nakamoto. It is estimated to hold around 1.1 million BTC, which is about 5.2 percent of the total supply. At a price of 1M, that asset would be worth about $1.1 trillion. This would make Satoshi one of the richest entities in history, if not the richest.
Losers: late investors
As the price approaches 1M, the gap between early and late investors becomes wider. Entering the market becomes more expensive and the potential return is lower. For new retail customers, the risk is rising sharply.
If there is a stronger correction or bubble burst after the peak, those who bought at extremely high prices could suffer serious losses. Bitcoin’s history shows that big ups often come with painful downs.
The structure of price growth resembles a pyramid. Early participants profit as new capital enters at higher prices. The system functions as long as the inflow of fresh money lasts. When this flow slows down or stops, the pressure is reversed downwards.
Bitcoin does not have cash flow, dividends, or the real use that stocks or real estate have. Its value is based almost exclusively on supply and demand and the market’s belief that someone will pay more later. In this context, new customers directly finance the gains of the old ones.
Potential losers can also be states. In a world where Bitcoin plays a dominant role, fiat currencies lose some of the demand and governments lose some of the monetary control. This raises new questions about taxation, regulation and fiscal stability, to which there are still no clear answers.
Source: cointelegraph
Quantum risk: the biggest threat to Bitcoin?
While the future of Bitcoin looks strong, there are also serious risks that are rarely mentioned outside of technical circles. One of the biggest is the development of quantum computers.
Quantum computers can potentially crack the cryptography on which Bitcoin rests. The key problem is the Shor algorithm, which allows for the rapid decomposition of large numbers and the calculation of discrete logarithms. These are operations that are practically unfeasible for classical computers, but could become trivial for quantum computers.
Bitcoin uses elliptic curve cryptography, which makes it particularly vulnerable to this type of attack. It is estimated that around 4 million BTC, roughly 25 percent of the usable supply, are stored at addresses with public keys already exposed. It is these coins that would be the first to be hit.
The economic impact of such an attack would be enormous. If a quantum attack were to hit a widely accepted currency with a market capitalization of around $1 trillion, the consequences could be global. A massive loss of confidence could easily drag the entire market into a serious crisis.
An additional problem is the very nature of Bitcoin. There is no central institution that can react quickly, pause the network or impose a security update. Any change requires consensus, which increases the risk of delays and chaos in crisis situations.
Solutions are evolving. Post-quantum cryptography is already an active area of research, and the National Institute of Standards and Technology is working to standardize algorithms resistant to quantum attacks. The goal is to protect digital infrastructure, including crypto assets.
But implementing such solutions in the Bitcoin network would be extremely challenging. Estimates suggest that the transition to quantum resistant cryptography could require a coordinated upgrade of the entire network and potentially up to 76 days of downtime. In a decentralized system, this is not a trivial task.
The quantum threat is just one of the risks, but it raises an important question. Even if Bitcoin reaches 1M, it remains a dilemma as to how safe it is in the long term as a global financial foundation. This is a question to which the market does not yet have a clear answer.
