Social Capital CEO Chamath Palihapitiya predicted that Bitcoin will hit $500,000 each by the end of this year. This prediction is based on the path of Bitcoin's past halving cycles. 🚀💰

Bitcoin's fourth halving occurred on April 20, 2024, reducing Bitcoin's approximate daily output from 900 BTC to 450 BTC. Using Bitcoin's performance after its third halving as a model, Palihapitiya predicts that Bitcoin will reach $497,977 by October 2025.

To boost demand, the CEO highlighted the "growing number of countries" aiming to adopt a dual currency standard, such as El Salvador. Palihapitiya believes that if Bitcoin truly rises above $500,000 each, investors will see Bitcoin “completely replace” gold and even begin to become useful in trading hard assets.

Additionally, based on its strong inflows this year, analysts at Standard Chartered have predicted that Bitcoin will reach $200,000 by the end of 2025.