Philip Gradwell: BTC will reach $ 1.5 million by 2035

Analyst Philip Gradwell of Metcalfe Analytics said that the value of bitcoin BTC $93,381.29 Bitcoin -0.38% Market capitalization $1.85 trillion VOL. 24 hours $3.17 billion could reach $ 1.5 million by 2035. In his forecasts, Gradwell relies on Metcalfe’s law, which describes how the value of a network is proportional to the square of the number of its users. The analyst believes that the active expansion of the bitcoin user base will be a key factor for such growth.

According to him, Metcalfe’s law is confirmed by historical data of bitcoin, in particular, the correlation between the number of active addresses and market capitalization: «The network effect has a significant impact on cryptocurrencies. If the number of users continues to grow at the current rate, the value of bitcoin could exceed $ 1.5 million by the mid-2030s.»

Gradwell also noted that bitcoin’s long-term success will depend on its adaptation in the financial ecosystem, increased institutional investment, and use in payments. He emphasized that such factors can not only support but also accelerate the spread of cryptocurrency.

The forecast also takes into account macroeconomic trends, such as the growth of the digital economy and the search for alternatives to traditional financial assets. Gradwell emphasized: «The more infrastructure and regulatory clarity that emerges around cryptocurrencies, the more chances bitcoin has to maintain its leadership position.»

The expert added that Metcalfe’s law does not guarantee the accuracy of the forecast, as the market can be affected by external regulatory factors or global economic crises. However, the current dynamics allow him to make optimistic assumptions.