NBA's Pippen states that Bitcoin's "next stop" is $1 million

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Scottie Pippen, one of the greatest legends of the NBA, predicts that the price of Bitcoin could reach $1 million.

Although Pippen does not seem to be an authority in the cryptocurrency space, his previous predictions about Bitcoin have proven to be quite prescient.

For example, in September of this year, the former professional basketball player claimed that Satoshi Nakamoto dreamed of him and predicted that the trading price of Bitcoin would exceed $84,000 on November 5.

On November 11, Bitcoin ultimately surged above that level, indicating that Pippen's prediction was slightly off.

Currently, the largest cryptocurrency is trading at around $95,000 on the Bitstamp exchange. Of course, Pippen's amazing track record of predictions does not mean that Bitcoin will soar to $1 million in the near future. This means that the market capitalization of the cryptocurrency needs to surpass that of gold (assuming the price of gold remains relatively stable). Even enthusiastic cryptocurrency bulls like Galaxy CEO Mike Novogratz believe that Bitcoin will need 5 to 10 years to reach such a monumental milestone. However, there are still some who believe that the price of Bitcoin could skyrocket to $1 million in the near future. According to U.Today, Jeff Park of Bitwise Invest recently stated that if the U.S. government indeed establishes Bitcoin reserves by 2025, then this price could be achievable. However, he believes the likelihood of this happening is small. According to U.Today, Blockstream CEO Adam Back also predicts that Bitcoin's market capitalization will match that of gold by 2025.

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