There have been all kinds of optimistic predictions about the price of Bitcoin, especially after the May halving.
At the moment of writing this article, Bitcoin is trading in the green and the king coin is priced at $9,251.95.
Bitcoin could reach $1 million in 4-5 years
It’s been revealed that Dan Held said that Bitcoin could be hitting $1 million in four to five years from now, due to what he anticipates to be an unprecedented influx of institutional investment.
Held who is Kraken’s head of business development, addressed Cointelegraph’s YouTube channel to expand on his belief in a potential Bitcoin super cycle.
“I think this [bull run] versus other cycles will be much stronger because we will have institutional money flowing in. We’ll have much more developed architecture, we’ll have much better marketing…” he said.
He continued and explained that “We could very much see Bitcoin go through what I would call a super cycle. So a lot of people are predicting Bitcoin goes from $10,000 to $100,000 or $200,000 or $300,000.”
He also asked, “what happens when the whole world wakes up to Bitcoin’s value prop of being this decentralized store of value that’s not sizable?”
“If socialism rises, if taxes rise, I could see tons of people flowing trillions and tens of trillions of dollars into Bitcoin, so Bitcoin might not just stop there, it could go to $1 million,” Held said as cited by the online publication the Daily Hodl.
He also made sure to highlight the fact that the blockchain tech is only suited best for powering the Bitcoin network.
Also, make sure to check out the video above in order to learn what more Held had to say.
Bitcoin has been consolidating at above $9,000 for almost two months now and a surge is expected.
Holders expect to see BTC hitting the important level of $10k once again.