Is Bitcoin really going to $1 million?

When it comes to valuing Bitcoin, the focus should be on mainstream Bitcoin adoption. In other words, what are members of the ecosystem doing to make Bitcoin more useful in everyday life? In this case, "utility" means more than just a lot of people buying spot Bitcoin ETFs. It means people using Bitcoin as part of a decentralized financial system that empowers individuals, reduces fees, and lowers barriers to entry.

Jack Dorsey is on to something when he talks about Bitcoin's collaborative ecosystem. He has experience building tech companies and designing innovative technologies and platforms. He understands how important community and collaboration are to the success and mainstream adoption of any new technology.

While I'm still unconvinced that Bitcoin will hit the mythical price of $1 million by 2030, I am convinced that Bitcoin is currently undervalued at its current price of $63,000. That's because too many investors are focused on Bitcoin as a financial asset, and not as a digital technology capable of disrupting the modern financial system. With that in mind, I'm bullish on Bitcoin's long-term outlook.

Should you invest $1,000 in Bitcoin right now?

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