How high can Bitcoin go? A lot of predictions have been thrown around on the possible future direction of Bitcoin. One of the most ambitious ones is that of Parallax Digital CEO Robert Breedlove, who in an interview with Rich Dad author Robert Kiyosaki, stated that Bitcoin can hit a valuation of $12.5 million a coin by 2031.
According to Breedlove, the money supply in the U.S will expand from $20 trillion to over $500 trillion in the next decade. At the same time, Breedlove expects the global money supply to expand from the current $100 trillion to $1.25 quadrillion.
In his view, this will lead to weakness in lots of global currencies, and many countries will be hit by hyperinflation. Ironically, this will lead to more dollar adoption, leading to an increase in its value. At the same time, Bitcoin, if it continues on its current trends, will see more people buy into it as they discover its wealth creation potential.
Breedlove postulates that by 2031, Bitcoin will account for 20% of all the world’s purchasing power. This would give it a market capitalization of about $250 trillion. Simply put, a fifth of the world’s money supply would be stored in Bitcoin.
For this reason, he believes one Bitcoin could be worth $12.5 million in the next 10 years. However, due to the significant loss of value in fiat currencies, including the dollar, its purchasing power will be about the same as that of $1 million. Whether these projections would come true is a matter of time.