- George Kikvadze envisions Bitcoin reaching $10 million.
- Institutional involvement is driving market growth.
- No immediate changes in regulatory framework foreseen.
Bitfury’s Executive Vice Chairman George Kikvadze announced via Twitter in October 2024, Bitcoin’s price could reach $10 million, citing future institutional inflows and finite supply as key factors.
His prediction amplifies existing bullish sentiment towards Bitcoin amidst increasing institutional investments, hinting at prospective gains but invoking skepticism regarding precise timelines and feasibility within the crypto community.
George Kikvadze, Executive Vice Chairman of Bitfury, has publicly predicted Bitcoin could reach $10 million. His comments emphasize the dramatic potential growth of Bitcoin, spurred by institutional investment and market dynamics. These predictions emerge during rising cryptocurrency influence.
Kikvadze’s forecast, shared on Twitter/X, outlines Bitcoin as a “directional bet on freedom” and highlights math and time as essential factors in reaching $10 million. He underscores institutional investor behavior and Bitcoin’s finite supply as pivotal factors.
“Bitcoin is a directional bet on freedom. The next cycle will not be about $100K or $500K—think in terms of millions. $10M BTC is possible, just math and time.”
The prediction has drawn significant attention from market participants. Institutional investors are showing an increased interest, evidenced by rising Bitcoin ETF inflows. Market dynamics appear increasingly supportive of steep valuation climbs for Bitcoin.
Bitcoin’s ascent to such valuations could alter financial market landscapes, catalyzing changes in traditional asset allocations. Regulatory bodies like the SEC maintain a focus on investor protection amidst these predictions but have not shifted cryptocurrency policies.
While previous claims of a Bitcoin supercycle have not resulted in seven-figure valuations, current trajectories suggest different potential outcomes. The market’s historical trends show repeated cycles of significant gains followed by corrections.
Kikvadze’s assertions align with broader industry voices suggesting a strong Bitcoin future. Arthur Hayes and Raoul Pal echo possibilities of high valuations if government policies continue unchanged.
Arthur Hayes, Co-founder, BitMEX: “If governments keep running the money printers, there’s a real shot at 7-figure BTC, just a matter of when not if.”
Historical data supports this bullish view, though many uncertainties remain.
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