Since Donald Trump was re-elected president on November 5, Bitcoin has experienced a significant upward trend, reaching an all-time high of $93,300.

Since then, BTC has been trading in a narrow range of $89,000 to $92,000, looking to reach the milestone of $100,000. This raises an interesting question: Is a price of $1 million per token feasible in the next decade?

Long-term vision of investors

Market expert VirtualBacon conducted an in-depth analysis of these possibilities, exploring the numbers, trends, and catalysts that could drive Bitcoin to soar nearly 1,000% from its current price level.

Within the current market cycle, experts predict that Bitcoin could reach $200,000 within the next one to two years. However, he notes that while this milestone is significant, altcoins may offer higher returns at greater risks, often plummeting 80% to 90% during bear markets.

Compared to altcoins facing increasingly strict regulatory scrutiny, Bitcoin is a safer long-term investment. VirtualBacon believes that Bitcoin's potential extends not just over the next few years, but over a decade or even longer.

VirtualBacon believes that to understand why the price of Bitcoin could reach $1 million, investors need to consider its fundamental utility as a store of value. Bitcoin's fixed supply of 21 million coins, strong global accessibility, and resistance to censorship and manipulation make it a strong alternative to traditional financial assets.

Experts say that for Bitcoin to become the digital gold of the 21st century, achieving a market value comparable to gold's approximate $13 trillion market cap is not just a theoretical possibility, but a 'logical outcome.'

The main drivers of this potential growth include the increasing participation of asset management firms, corporate finance departments, central banks, and the wealthy. Recent data shows that inflows into Bitcoin ETFs have reached an all-time high, with investments last week totaling $1 billion, reflecting growing institutional confidence.

Additionally, companies like Microsoft are considering Bitcoin reserves, further enhancing Bitcoin's strategic value. The wealthy are also starting to include Bitcoin as a standard portfolio allocation, with billionaires even seeing a 1% investment in Bitcoin as the norm.

What does Bitcoin need to reach $1 million?

To push Bitcoin to the $1 million threshold, two key factors must be analyzed: global wealth growth and portfolio allocation. VirtualBacon notes that the total global wealth in 2022 was estimated at $454 trillion, and this figure could grow to $750 trillion by 2034.

Currently, gold constitutes about 3.9% of global wealth, while Bitcoin only represents 0.35%. If Bitcoin's allocation in global portfolios rises to 3%, still far below gold's share, its market value could soar to $20 trillion, pushing the price of each Bitcoin to $1 million.

Historically, gold's market value saw significant growth after the launch of exchange-traded funds in 2004, with its portfolio allocation increasing from 1.67% to 4.74% over the next decade.


If Bitcoin follows a similar trajectory, its allocation could rise from 0.35% to 1.05% or more, equating to a market value of approximately $7.92 trillion, or about $395,000 per Bitcoin. Thus, reaching $1 million does not require Bitcoin to surpass gold; by 2034, it would need to account for about 57% of gold's expected market value.

Gold accounts for 4.7% of global portfolios, while Bitcoin makes up 0.35%. If Bitcoin's share of global wealth rises slightly to 3% (just 60% of gold allocation), it could 'easily' achieve a market value of $20 trillion and a price point of $1 million.

At the time of writing, BTC is trading at $92,240, up 7% weekly.

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