U.Today – Bitcoin’s $10 Million Prediction

Data shared on X indicates that the very first prediction of Bitcoin theoretically reaching $10 million per coin in the future was made by a person close to Satoshi Nakamoto.

The author of the post pointed out that all the complaints about Bitcoin being predicted to reach $1 million pale in comparison to that earlier ultra-bullish forecast.

Here’s First Person Who Said Bitcoin Could Reach $10 Million

According to user @Vivek4real on X, the first prediction about Bitcoin potentially skyrocketing to $10 million per coin was made by Hal Finney, the recipient of the first Bitcoin transaction from Satoshi Nakamoto himself.

However, many believe that Hal Finney was Satoshi’s real name. There is no way of knowing for sure now since the cypherpunk sadly passed away 10 years ago, on Aug. 28, 2014, after suffering from amyotrophic lateral sclerosis (ALS), diagnosed in 2009, the year of Bitcoin’s launch.

In the post, @Vivek4real shared a screenshot of Finney’s letter describing the conditions under which Bitcoin could soar as high as $10 million per coin. According to Finney, to reach that value, Bitcoin needs to become “the dominant payment system in use throughout the world.” Consequently, the total value of Bitcoin would need to equal the total value of the world’s wealth.

Back in 2009, the total worldwide household wealth was estimated at $100 to $300 trillion. Finney divided that by 20 million (instead of the full 21 million Bitcoin supply), suggesting each BTC could be worth approximately $10 million. He also noted that mining Bitcoins with compute time worth just a few cents could offer a payoff of something like “$100 million to 1.”

Bitcoin to Hit $10 Million in 21 Years

This week, during his visit to CNBC’s Squawk Box show, Bitcoiner and MicroStrategy executive chairman Michael Saylor echoed similar predictions, expecting BTC to reach $10 million within 21 years, contingent on Bitcoin capturing about 7% of the gold market—currently holding only 0.1%.

Many Bitcoin enthusiasts supported this bullish forecast.

This article was originally published on U.Today