$1M Bitcoin Target Slammed as 'Mathematically Impossible'

Markus Thielen, head of research at 10x Research, has expressed skepticism about the prospect of Bitcoin reaching $1 million by 2030. In a recent interview with Cointelegraph on Trade Secrets, he argued that achieving such a price would require an impossible amount of investment.

The math behind Thielen's claim is based on the roughly $1 trillion of inflows it took to build Bitcoin's current market cap over 15 years. He estimates that another $15 trillion would need to rotate into Bitcoin over four years, which is roughly a quarter of the entire US stock market.

Thielen also pointed out that higher prices tend to weaken retail appetite for Bitcoin because buyers prefer to purchase whole coins rather than fractions. He cited the example of art collectors who typically want to buy complete paintings, not just a fraction of one.