Changpeng Zhao "Bitcoin (BTC) to hit $1 million in 2033"...Ultra-bullish calculation formula revealed

▲ Bitcoin (BTC)

An ultra-bullish scenario has emerged suggesting that Bitcoin (BTC) could approach $1 million by 2033. The calculation indicates that applying the upward multiples of past market cycles, a seven-figure price could be reached with just two more upward cycles.

According to the crypto media outlet The Street on July 8 (local time), Binance founder Changpeng Zhao presented the Bitcoin $1 million scenario in an interview with The Block. He calculated the path to 2033 based on past market cycle movements, rather than a specific price model.

Changpeng Zhao assumed a bearish market in 2025, followed by upward cycles in 2029 and 2033. He cited the fact that Bitcoin typically rose by approximately 3-5 times in past market cycles. He stated, "If it goes up 5 times in the next cycle, it will be about $600,000. Even if it only doubles in the cycle after that, it will reach $1 million," adding, "It is entirely possible."

However, he did not definitively state that it would reach $1 million. Changpeng Zhao emphasized, "I'm not saying it will happen. It means it's entirely possible." He further explained that predicting price levels is difficult, but accurately predicting the timing of reaching those levels is even harder.

He also pointed out the weak trend of the recent upward cycle. Changpeng Zhao said, "Wars and elections shook the market. It was a weak cycle where Bitcoin only doubled." In addition to wars, elections, and macroeconomic turmoil, he also cited the absorption of investment funds by artificial intelligence (AI) companies as a factor for sluggishness. He stated, "Bitcoin is still far from saturation," and revealed that the asset proportion of holders might be less than 1%.

Changpeng Zhao also drew a line at the argument that only Bitcoin should exist. He said, "While 1 million blockchains are not needed, it is a good thing for 10, 20, or 30 blockchains to innovate." He explained that new ideas from various blockchains can promote innovation across the industry.

[Key Article Summary]

-Changpeng Zhao presented a scenario where Bitcoin could approach $1 million through market cycles in 2029 and 2033.

-The calculation suggests that if it rises 5 times in the next market cycle and then doubles in the subsequent cycle, it could reach $1 million.

-Changpeng Zhao stated that the Bitcoin market is still far from saturation, but he did not definitively predict that it would reach $1 million.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*