A $1 million price tag for Bitcoin (BTC) once sounded like an exaggerated dream. Today, it is rapidly evolving into a serious investment thesis, supported by institutional voices and long-term market trends.

Institutional adoption as the catalyst

Institutional capital is now playing a key role in BTC’s trajectory. At the Bitcoin 2025 conference, Strategy chairman Michael Saylor declared:

“When Wall Street is 10% Bitcoin, BTC will be worth $1 million per coin.”

According to Saylor, this level of allocation could inject around $20 trillion into the Bitcoin market — enough to make further accumulation prohibitively expensive, thus strengthening the hands of existing holders.

Others share his bullish outlook. Blockstream CEO Adam Back believes BTC could hit the $1 million mark even sooner. In his view, just a 2% allocation by major asset managers like BlackRock could generate sufficient demand to push prices dramatically higher.

Growing support from crypto leaders

Saylor has made similar predictions before. In September 2024, he told CNBC that Bitcoin could reach $13 million in the long term, calling it “perfect money” as opposed to fiat currencies, which he dismissed as “pseudoscience.”

Former Binance CEO Changpeng Zhao (CZ) has also projected a price range between $500,000 and $2 million for this market cycle.

ARK Invest, led by Cathie Wood, raised its base target to $1.2 million by 2030, with a bullish scenario of $2.4 million. The firm cites institutional ETF adoption and Bitcoin’s rising role as a programmable store of value as key drivers.

They estimate that if BTC captures just 6.5% of the $200 trillion global investment market, it would surpass gold’s 3.6% market share — a shift already reflected in recent data from angel investor Fred Krueger. He notes that more Americans (49.6 million) now own Bitcoin than gold (36.7 million), with higher average holdings per person.

BTC price action

At the time of writing, Bitcoin is trading at $105,466, slightly below its all-time high of $111,814. Over the past 24 hours, it has moved within a tight range of $105,112 to $106,365.

On the weekly chart, BTC is up 0.6%, outperforming the broader crypto market, which declined by 0.8%. Month-on-month, it has gained 2.1%, while year-on-year performance stands at an impressive +52.2%, highlighting a strong upward trend despite short-term volatility.

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