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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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Discussion

Derek Ross 2y ago

You are now the biggest bull I know. I had always thought we'd hit 1M around 2030. Maybe you're right. Maybe it's in play this next coming year. I just can't fathom it.

tanel 2y ago

hope it doesn’t happen this rapidly, not good to see money change hands this fast

Samson Mow 2y ago

It may blow past $1M and then drop to $500k. Media reports Bitcoin is ded. 😜

zhenya 2y ago

RIP #Bitcoin 🪦

Derek Ross 2y ago

Haha. Absolutely. I'm sure whatever it crashes to, it will be declared dead again. As is tradition.

nobody 2y ago

The massive supply of bitcoin for sale coming in to drive the price down from $1M to $500k in this example that you state, would come in far before bitcoin ever got close to $1M. Bitcoin is not going to gain the equivalent of US GDP ($19T!) before this supply comes in. Pure hopium, and unfortunately, just like last cycle, people who cant afford it will over invest at the top because of ridiculous predictions like this.

Mutant Overlord 2y ago

SLAMMING PROTEIN MILK

CURLING 200

AWAITING 10 MILLION SPACE BUKKZ

AKA 100 MILLION USD

The Bullish ₿itcoiner 2y ago

🚀

nostr:note1a2p003j8jkn4dhhvlwt5sraj0qttjgtpm67m4qadcgxtzsjes4qqmhpwka

PAGAN WOLF 2y ago

And

Boom

nobody 2y ago

Agreed

BitPopArt 2y ago

Some true words 🙏

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.

BTC_P2P 2y ago

Balaji is gay as fuck though

bitbuybyte 2y ago

Directional right. Temporally wrong. That is easy in Bitcoin as long as you are bullish.

BitcoinSandy 2y ago

They are closing the on ramps for normies so how can they buy it ?

nobody 2y ago

P2P baby

BitcoinSandy 2y ago

Normies will struggle with that

nobody 2y ago

My dad still struggles with smartphones but he’s not holding humanity back.

BitcoinSandy 2y ago

Glad to hear that 😂

Satoshi Fawkes 2y ago

The normies will be late and buy through the overlords.

mrclownworld 2y ago

The Big Long

Tha Brainer 2y ago

by the way, where is Balaji on NOSTR?

Marinatin 1y ago

It already happened....and will soon happen again....to the tune of 10-20T. This will be the catalyst of the Great Bitcoin Awakening in my opinion. Right now everyone was drunk at the party...they woke up with a hangover and the man said "Have another beeeeer! It's all gonna fine!" [queue jaw sound track]. #Ibetyourepostthisin2027