Here’s What Could Drive Bitcoin to a $1 Million Valuation

The CEO of CryptoQuant, Ki Young Ju, has highlighted a key factor that could push Bitcoin (BTC) to a staggering $1 million valuation.

Ju argued that Bitcoin surpassing gold as the dominant safe-haven asset is not a question of “if” but “when.”

He explained that gold’s market cap in 2004 was $1 trillion, prior to the introduction of gold ETFs. Today, that figure stands at $17.8 trillion, with the majority attributed to its role as a hedge against inflation and a store of value.

Ju suggested that Bitcoin, currently valued at $2 trillion, has the potential to grow exponentially if investor demand shifts from gold to BTC. He believes such a shift could result in a 750% increase in Bitcoin’s market cap, propelling its price to $1 million.

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He also predicted that discussions about Bitcoin overtaking gold could become mainstream within five years. Ju added that Bitcoin has yet to enter bubble territory, even after recently surpassing $100,000 for the first time.

With fresh capital flowing into the market, the realized cap has continued to grow, keeping Bitcoin far from the bubble threshold. He noted that the asset would need to climb another 43% to reach that point, signaling plenty of room for further growth.

Kosta Gushterov