$1,000,000: Bitcoin Price Will Continuously Rise with Growing Trend ↑

Real Vision CEO Raoul Pal described how cryptocurrency adoption rates determine the pace for Bitcoin's price, which could reach the nine-figure mark by the end of the decade. In a recent interview with "Altcoin Daily," Pal outlined a $1 million Bitcoin price projection based on the growth of digital asset wallets.

"Assuming it increases from 175% per year, as it has been trending, to 43% per year, which is what the internet did from the eighth year onwards," said Pal. "Now, crypto reaches a billion people by the end of next year, a billion active wallets. And by 2030, it reaches 4 billion. Now, with 4 billion wallets, the price will certainly be $1 million."

Determining the exact adoption rate of crypto worldwide is challenging, although a recent survey of consumers in 50 countries indicates that adoption is largely growing. Pal added that Bitcoin, as the flagship of one of the fastest-growing asset classes in the world, is on an inevitable path toward higher prices.

"Crypto adoption is happening twice as fast as that of the internet," said Pal. "So, it's the fastest adoption of any technology in any asset class the world has ever seen."

Pal stated that his adoption projection is based on the number of active crypto wallets and acknowledged that this figure is "not a perfect indicator" as investors can own multiple wallets, and not all crypto holdings are publicly verifiable. Nevertheless, he emphasized that many metrics show significant growth in the adoption of digital assets, and comparing it to the internet's adoption "just gives you a rough idea."

Pal also admitted that a $1 million Bitcoin price projection "sounds as ridiculous today" as it did when he first invested in Bitcoin at $200. At that time, he projected the asset would rise to $100,000, a possibility largely dismissed.

"Overall, crypto adoption and Bitcoin price are not inherently linked, but Bitcoin remains the market leader for digital assets, and it stands to reason that adoption continues to be led by the flagship asset. Bitcoin's market capitalization represents more than 55% of the entire crypto market as of this writing."

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