Jack Mallers, the CEO of Strike, a popular Bitcoin payments app, has shared some bold predictions about the future price of Bitcoin. He believes that Bitcoin could potentially reach $1 million during this current bull market cycle.
During a recent podcast with Anthony Pompliano on his YouTube channel, Mallers reiterated his belief that Bitcoin has the potential to hit $1 million per coin in the near future. He emphasized that we are still in the early stages of the Bitcoin revolution and predicted a price range of $250,000 to $1 million for this cycle.
Mallers highlighted several key factors that could drive Bitcoin’s price to such remarkable heights. He mentioned the challenges faced by the bond market, which could lead central banks to inject liquidity into the financial system. This liquidity influx could drive up asset prices, including Bitcoin.
According to Mallers, Bitcoin is a superior form of money due to its capped supply, which makes it resistant to inflation unlike fiat currencies. He believes that increasing adoption by Wall Street could push Bitcoin’s price to $1 million per coin.
Mallers also discussed Bitcoin’s role as a hedge against inflation and compared it favorably to Gold, citing its fixed supply and independence from government influence. He pointed out that Bitcoin’s scarcity, as well as its potential as a universally accepted currency, are reasons for his optimism. The Lightning Network, a layer-2 solution built on top of the Bitcoin blockchain, could also drive up demand for Bitcoin by enabling instant and cost-effective transactions.
While some skeptics view Bitcoin as a speculative bubble, Mallers sees it as a safeguard against a potential financial crisis. He noted the increasing acceptance of Bitcoin within Wall Street circles as a positive sign for the cryptocurrency’s future.
In addition to Mallers, other prominent figures in the cryptocurrency space, such as Michael Saylor and Arthur Hayes, have expressed confidence in Bitcoin’s future potential. Saylor believes that Bitcoin could reach $350,000 by 2024 and Hayes predicts a price of $1 million in the long term. Both Saylor and Hayes emphasized Bitcoin’s scarcity and its potential as a globally embraced currency.
Overall, Mallers and other Bitcoin visionaries remain bullish on the future of Bitcoin, citing its unique properties and increasing adoption as key factors driving its potential price appreciation.