Bitcoin's $1 Million Price Target by 2030: A Mathematical Impossibility

Markus Thielen, founder and head of research at 10x Research, believes that reaching a Bitcoin price of $1 million by 2030 is mathematically impossible.

The required market capitalization would be nearly $20 trillion, which exceeds the global liquidity and net inflows available to support such a valuation.

Thielen points out that even accounting for capital inflows via spot ETFs, sovereign funds, and falling rates, the numbers don't add up, with the incremental flows needed far exceeding the allocation capacities of global markets by 2030.