Bitcoin Could Hit $1 Million Amid Debt Crisis, Says Crypto Analyst

In a recent interview, cryptocurrency analyst Michaël van de Poppe shared his outlook on Bitcoin's resurgence, hinting that the leading cryptocurrency could surge to $1 million per coin in the coming years.

However, he cautioned that such a dramatic rise might coincide with a debt crisis that could initially depress asset prices across the board. Van de Poppe, founder of MN Consultancy and MN Capital, discussed his projections with Jonathan DeYoung at Amsterdam’s DKGcon 2024 on Oct. 24, just before Bitcoin’s latest spike to all-time highs.

According to van de Poppe, the cryptocurrency’s recent gains signal a return to a bull market, though he believes this cycle could stretch out until 2026. He attributes Bitcoin’s long-term potential to ongoing central bank policies like money-printing but warns that an eventual debt crisis could disrupt the upward trajectory.

“The amount of debt is going through the roof,” he explained, referencing the 2008 financial crisis as a cautionary tale. If the U.S. faces a similar crisis, a reduction in dollar liquidity could impact Bitcoin’s value in the short term.

READ MORE:

BREAKING: MicroStrategy Purchases $2 Billion Worth of Bitcoin

Van de Poppe also speculated on how a Trump administration might affect the crypto space. He suggested that Trump’s anti-inflationary policies could create a favorable regulatory environment for Bitcoin in the short term. However, if inflation control measures intensify, they could hurt asset prices, including Bitcoin. “Bitcoin doesn’t care about governments,” he emphasized, noting that its core value remains unchanged by politics.

Source

Alexander Zdravkov