How Bitcoin Can Reach the $1M Mark

Darin Feinstein, CEO of Core Scientific, has predicted that the price of Bitcoin (BTC) will rise indefinitely, based on highly predictable predictions that the immutable ledger will become the cornerstone of modern civilization.

The immutability of the Bitcoin network means that no one can change what is true, which makes it a candidate for all future financial products. Feinstein based his bullish prediction on BTC, which is more than 200x since 2012. He bought BTC when it hit $50, making a 900x profit at today's prices.

The value of Bitcoin will be 200x again in ten years.

Feinstein says BTC will keep going “for the rest of your life.” He predicted another 200x increase for the next decade.

Feinstein's accounting of the BTC immutable ledger is fantastic. Immutability means that no one can change history.

Read more: Deploying Blockchain Infrastructure: Challenges and Solutions

In the past, people could modify accounting records to change how events were remembered. If not audited, these records can be mistakenly taken as universal truth, Feinstein said.

“If you look at any bank, government, corporation, publicly traded company, all the information they report is double-entry accounting, which was invented in the 13th and 1400s. So we are looking at a 700 year old technology running everything on the planet…legacy stakeholders…they can change books and records…the only way one can know if there is fraud is to audit the books.

Satoshi Nakamoto's so-called time chain idea is that every transaction is recorded with a time stamp. A party cannot go back to change past transactions. This benefit is particularly relevant to the rise of central bank digital currencies, where political opposition can be created for unauthorized transactions.

The Bitcoin network is actually self-auditing and cannot be altered by anyone who wants to cheat. Every transaction has a debit and credit side that is certified and recorded on the blockchain. Feinstein described the phenomenon as a “triple logbook.”

Bitcoin Maxi Says Samson Mau May Break $1 Million Price

A recent poll conducted by top Bitcoin expert Samson Mou shows the sentiment of the crypto community around the future value of BTC. The poll asked whether Bitcoin's climb to $1 million would be “slow and steady” or “fast and violent.” Most respondents said “fast and aggressive.”

Read more: How to buy Bitcoin (BTC) and everything you need to know

Mou has been a proponent of the $1 million bitcoin price theory for some time. The top recently told BEncrypto that Bitcoin is often unpredictable and causes economic disruption.

For example, a $1 million price increase would result in MicroStrategy's goal of owning 1% of the Bitcoin supply. Also, El Salvador, which adopted bitcoin as legal tender in 2021, discourages the issuance of large-valued bitcoin bonds.

On the other hand, the $1 million BTC price puts gold bugs like Peter Schiff, who rejected Bitcoin as a store of value. It could put central bank officials out of business. Mow says these factors show Bitcoin's potential to disrupt the old guard and the way they do things.

By Samson Mou and Darren Feinstein Do you have a Bitcoin price prediction or something else? Please write to us or join the conversation on our Telegram channel. You can also find us on TikTok, Facebook or X (Twitter).