Bitcoin at $1 million: See you in ten years

Bitcoin, this disruptive force, heralds the end of banking corruption and even has the potential to become the new global reserve currency. According to crypto analyst Willy Woo, the famous cryptocurrency could reach one million dollars, but we need to be patient, very patient, at least 10 years!

Bitcoin: A Reserve Currency at 1 Million Dollars?

Jack Dorsey, Martin Shkreli, Cathie Wood, these icons of the cryptosphere do not hesitate to bet on Bitcoin at 1 million dollars. The only difference between their predictions is the date! While Dorsey and Wood foresee this amount by 2023, Shkreli believes it could happen as early as this year.

What a time to be alive.

BTC at $1m will happen easily in the next 10 years. Follow on impacts will be long lasting…

– BTC becomes a reserve currency
– a purge of central bank corruption
– wars become expensive
– younger leadership building for a future they will live in

— Willy Woo (@woonomic) May 11, 2024

According to renowned Bitcoin analyst Willy Woo, Bitcoin (BTC) could well surpass the 1 million dollar mark over the next decade. Woo, who works at Onchain, predicts that this BTC surge will mark a new era where the leading cryptocurrency will become a true reserve currency.

In a recent post on X, Willy Woo also shared his views on the consequences of this development. He expects a « purge of central bank corruption » during this period, which he describes as « a time to be alive ». According to him, the adoption of Bitcoin as a reserve currency could end the uncontrolled money creation by central banks, thereby making wars more costly and dissuading nations from engaging in conflicts.

He envisions a future where young leaders will take the reins and build a world in which they can fully thrive. Bitcoin seems to promise an unprecedented monetary revolution in the coming years.

Bitcoin VS CBDC

Willy Woo’s prophecy of Bitcoin reaching one million dollars in the next ten years has sparked mixed reactions, especially regarding BTC’s status as a future reserve currency.

Some of his followers emphasized that central banks would not allow Bitcoin to become a reserve currency, reports Bitcoin.com. Instead, they believe that a central bank digital currency (CBDC) will replace the US dollar. Toby Cunningham, one of BTC’s detractors, highlighted on X that Bitcoin was too expensive, slow, and non-scalable to become a global currency.

Other analysts shared this view, highlighting the challenges BTC would have to overcome to become a global reserve currency. Some even doubt the purge of central bank corruption, as Woo predicts.

According to them, central banks could print more money to acquire all the available BTC, thus compromising Bitcoin’s status as a safe haven.