Bitcoin can reach $ 1.14 million if it repeats the bullish trend after halving

Billionaire and venture capitalist Chamath Palihapitiya spoke on the All-In podcast about one of the ways to massively adopt bitcoin BTC $62,381.60 Bitcoin 0.37% Market capitalization $1.23 trillion VOL. 24 hours $0.44 billion and allowed the price of the flagship asset to rise to $ 500,000.

According to the billionaire, the «powerful concept» of digital gold acceptance was explained to him by the founder of Xapo, a custodian(a specialized financial institution responsible for providing securities services — ed.), Vences Casares. The entrepreneur is confident that the number of countries that will pay attention to bitcoin while preserving their own national money will increase. «In fact, they will become bi-currency, and the United States may be one of the first to follow this path,» Casares suggested. — «One asset will be used for transactions with everyday goods and services, and the other — cryptocurrency — as a means of preserving value.»

Palihapitiya also noted that Casares invited him to analyze the growth of bitcoin after the halving. Approximately every four years, the reward for a mined block on the network is halved. on April 20, 2024, it became 3,125 BTC instead of 6,25 BTC.

The investor noted that the cryptocurrency reached its highest performance in the period of 12−18 months after the event.

According to Palihapitiya’s forecast, if the growth trajectory is repeated after the third halving, the price of bitcoin could reach $ 500,000 by October 2025. If we take the average of the last two cycles, the expected quotes target is $ 1.14 million.