Bitcoin
‘Beyond’ $20 trillion by 2030 – Jack Dorsey’s plan to boost Bitcoin price
Bitcoin
Bitcoin
invaded 2024, surpassing its previous record and now preparing for a predicted “huge” earthquake in China.
The price of bitcoin has more than doubled since this time last year, driven by a wave of institutional adoption that could just be beginning.
Now, as former US President Donald Trump and the US Federal Reserve could be about to trigger a $4 trillion boom in the price of bitcoinTwitter founder and Block chief executive Jack Dorsey said he expects the price of bitcoin to rise to $1 million by 2030 – which would give bitcoin a market capitalization of $20 trillion – partially driven by labor of Bitcoin from Block.
Sign up now for free CryptoCodex–A five-minute daily newsletter for traders, investors and the crypto-curious that will keep you updated and ahead of the bitcoin and crypto market bull run
Twitter founder and Block chief executive Jack Dorsey said he expects bitcoin to become the… [+] native internet cryptocurrency – and issued a huge bitcoin price prediction.
Getty Images
“At least $1 million,” Dorsey said in a interview with Mike Solana
Solana
the founder of media company Pirate Wires, when asked what the price of bitcoin will be by 2030. “I think it hits that number and goes beyond.”
Dorsey said he believes the price of bitcoin will grow rapidly due to people and companies working to increase the use of bitcoin and improve the “ecosystem.”
“The most amazing thing about bitcoin, besides the story of its founding, is that anyone who works on it, or gets paid for it, or buys it for themselves – everyone who strives to make it better – is making the whole world better ecosystem. , which drives the price up,” Dorsey said. “It’s a fascinating ecosystem and movement more than anything else. It taught me a lot.”
Dorsey’s huge bitcoin price prediction echoes similar bets on the bitcoin price from Ark chief executive Cathie Wood – who in January said bitcoin could reach $1.5 million by 2030 – and Balaji Srinivasan, former chief technology officer at cryptocurrency exchange Coinbase and former partner at venture capital firm Andreessen Horowitz, who last year made headlines with a bet that bitcoin would reach $1 million.
Register now on CryptoCodex—A free daily newsletter for the crypto-curious
The price of bitcoin has recovered this year, erasing losses from the 2022 crash.
Forbes Digital Assets
Earlier this month, Dorsey revealed that his payments-focused bitcoin company Block will invest 10% of its gross profit earned from its bitcoin products into purchasing bitcoin every month.
“Our investment in bitcoin transcends technology; it is an investment in a future where economic strength is the norm,” Dorsey wrote in a letter to shareholders alongside better-than-expected first-quarter results.
Block recently launched a bitcoin hardware wallet and earlier this year announced that it is building a “complete bitcoin mining system.”
“The Internet will have a native currency; it’s just a matter of time,” Dorsey wrote. “This will not happen overnight. Existing and emerging financial systems will work in parallel for some time.”