Analyst Forecasts BTC to Reach $1 Million in 10 Years, Envisions It as Future Reserve Currency

Onchain bitcoin analyst Willy Woo predicts that the leading cryptocurrency will reach the $1 million milestone within the next decade. During what he describes as “a time to be alive,” Woo anticipates witnessing a purge of central bank corruption. However, one of Woo’s followers envisions a Central Bank Digital Currency (CBDC), not bitcoin, replacing the U.S. dollar.

Woo Foresees BTC Becoming a Reserve Currency

Bitcoin onchain analyst Willy Woo predicts that the U.S. value of bitcoin (BTC) will easily reach $1 million in the next ten years. Writing on the social media platform X, Woo stated that the follow-on impact of the top crypto asset reaching such a milestone would be BTC finally becoming a reserve currency.

With this prediction, Woo joins other prominent BTC advocates, such as Jack Dorsey and Cathie Wood, who similarly foresee the crypto asset eventually surpassing the million-dollar mark. As recently reported by Bitcoin.com News, Dorsey, the co-founder and former CEO of X, expects BTC to reach the milestone by 2030. Dorsey also anticipates the U.S. dollar value of the crypto asset to continue growing afterwards.

Meanwhile, in a May 11 post on X, Woo said during the period he describes as “a time to be alive,” he expects to witness a “purge of central bank corruption.” The adoption of BTC as a reserve currency, which could mark the end of the central banks’ uncontrolled money creation, will make wars more expensive. This in turn will deter nations from starting wars. Woo added that he envisions younger leaders not just taking charge, but building for a future they will inhabit.

A CBDC Is More Likely to Topple USD Than BTC

Although Woo appeared to reiterate support for controversial prediction in a subsequent post on X, some of his more than one million followers however insisted that opponents of bitcoin would not allow that to happen. One of these followers, Toby Cunningham, said he instead foresees a central bank digital currency (CBDC) taking the place of the U.S. dollar and not BTC.

“Central banks will never allow bitcoin to be a reserve currency. Instead, you’ll see a CBDC taking the place of the current USD. There will never be a purge of central bank corruption. Look no further than 2007/8. Also after 2020, we saw how truly neutered society is. It will only grow worse. Wars are always becoming more expensive. This trend will stay the course. But the more they print, the more bitcoin will benefit from monetary inflation,” the X user said.

Another user argued that bitcoin will ‘never become a global currency’ due to its high fees, low transaction speed, and scaling issues. Still, others expressed doubts about Woo’s prediction regarding the purging of central banks. One user predicted that central banks would print more money, which they would then use to acquire all the available BTC.

What do you think of Willy Woo’s latest BTC price prediction? Share your opinions in the comments section below. #Write2Earn