The price of Bitcoin at $500,000 is theoretically possible, but the accompanying increase in energy consumption will lead to serious social, economic, and environmental consequences.

If the price of $BTC reaches $500,000, the network's energy consumption is likely to reach a level that will significantly impact the global energy infrastructure.

Energy consumption estimates:
Consumption at $500,000:
Given the current dependence of network difficulty on price and mining growth rates, energy consumption could exceed 500-700 TWh/year. This is already about 2-3% of global energy consumption, which is approximately 26,800 TWh/year.
Such a level of energy consumption would be comparable to the annual consumption of countries like Germany (580 TWh/year) or South Korea (514 TWh/year).
Pressure on energy systems:
Major mining regions such as the USA, Kazakhstan, Canada, and Russia may face widespread power supply disruptions, especially in regions with limited energy capacity.
This will create pressure on countries, forcing them to implement strict regulatory measures.
Realism of the $500,000 price:
Fundamental factors:
A price of $500,000 is possible with a significant increase in institutional interest, limited supply, and mass adoption of Bitcoin as a store of value.