Booth: $1 Million Bitcoin Target 'Too Small', Sees Decentralized Protocol Stack

Jeff Booth, author of The Price of Tomorrow, believes that a $1 million Bitcoin price target is too small. He thinks that using devaluing fiat currency to value Bitcoin is like valuing it in an manipulated system controlled by currency devaluation.

In a video interview with Bitcoin Magazine, Booth said that Bitcoin is not just a token or asset, but the start of a decentralized, secure, and private protocol stack, which will eventually take on the form of the internet. He also stated that Bitcoin's ultimate value lies in its ability to become the first truly free market in human history.

Booth discussed the AI valuation and technological deflation, arguing that a free market would drive AI service prices towards zero. This deflationary force will eventually conflict with the debt-based monetary system in place today. He pointed out that the US has over $40 trillion in debt, high bond yields, and a financial system worth around $350 trillion, which is effectively insolvent.

Booth connected AI singularity theory to market fear and regulatory monopoly, emphasizing that Bitcoin's adoption timeline will be driven by its ability to become a decentralized protocol stack. He also discussed the expansion of Bitcoin payments and circular economies globally, as well as ideas such as private equity and perpetual holding companies backed by Bitcoin.