Bitcoin's $1 Million Target Faces Skepticism from Top Researcher

The price of Bitcoin has been on a hot rally, trading near $79,000 as of August 25. Many high-profile investors have predicted that its price will reach $1 million per coin by 2030, but Markus Thielen, head of research at 10x Research, disagrees.

Thielen argues that it's mathematically impossible for Bitcoin to reach such a price due to the limited supply. With only 20.1 million coins in existence and 21 million maximum possible, the total supply would be worth around $21 trillion if all were in circulation.

To reach a price of $1 million per coin, the market value would need to increase by approximately $18.5 trillion between now and 2030, or about $15 trillion according to Thielen's estimates.