Replying to Avatar Samson Mow

Balaji wasn't wrong about #Bitcoin going to $1M, but he was wrong on the timing and the catalyst.

My $1M call is based on a massive rapid influx of institutional capital while Bitcoin available for sale is at historical lows, compounded by the halving.

His $1M prediction was predicated on money printing and banks failing. Those two things could potentially be a driver for a rapid run to $1M but not likely. The money printing already happened and then dried up. It will take a few more years for the market to adjust accordingly. As for banks failing, normies will just look for a "safer" bank. They aren't at the stage where they realize no bank is really safe and Bitcoin is the only option.

TL;DR: #1MBitcoin is in play.
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nobody 2y ago

This is just an irresponsible. Just like your many other hopium based calls in the last cycle that were ridiculous and wrong.

$1M? Sure, eventually. But you said $1M in a matter of “days/weeks”. An increase in the market cap of the bitcoin network the size of US GDP in days/weeks???

The institutional dollars coming into the space will have less and less of an effect as the price gets higher and will certainly be met by an increasing supply of bitcoin from bitcoin owners who have massive gains (not all whales are HODLing all their bitcoin forever regardless of price, obviously).

The supply demand equilibrium is much higher than today’s price, but to say $1M is pure bullshit hopium.

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