Jack Dorsey names the timeframe for bitcoin to reach $ 1 million

Jack Dorsey, the founder of Twitter, co-founder and CEO of Block, has shared his forecast for bitcoin’s growth. The developer said that by 2030, the price of the flagship cryptocurrency could reach $ 1 million and even surpass this high bar.

The entrepreneur is confident that the most interesting aspect is the nature of the Bitcoin ecosystem, and not the value of the coin BTC $97,469.99 Bitcoin 1.01% Market capitalization $1.93 trillion VOL. 24 hours $2.7 billion . Jack Dorsey spoke about this in an interview with Pirate Wires journalist Mike Solana. The businessman believes that the most amazing thing about Bitcoin is the ability of everyone working with this blockchain to improve the entire ecosystem. This leads to an increase in the value of digital gold.

«The price of bitcoin will reach at least $ 1 million by 2030, and even go beyond that,» Dorsey emphasized.

Block’s CEO reiterated that his company will allocate 10% of its gross profit related to bitcoin to the purchase of new coins by the end of 2024. The businessman assured that the investigation launched by the US federal prosecutor’s office against Block on charges of violating the law and failing to comply with sanctions would not succeed, as the company fully complies with all legal requirements.

At the end of March, the CEO of Ark Invest, Katie Wood, suggested that BTC could rise to $ 3.8 million. Speaking about her latest forecast, Wood noted that such an astronomically high price would be achieved if institutional participants allocate at least 5% of their portfolios to the largest cryptocurrency. Without giving a specific timeframe, Wood believes that this will happen sooner or later.