Will Bitcoin Reach $1 Million? BTC Miner CEO Shares Ambitious 2030 Prediction

The cryptocurrency market could see Bitcoin (BTC) price reach an unprecedented milestone of $1 million per coin by 2030, potentially matching gold’s current market capitalization of $19.3 trillion, according to a bold prediction from a prominent tech executive.

Daniel Roberts, founder and CEO of publicly-listed Wall Street Bitcoin miner IREN (NASDAQ: IREN), argues that Bitcoin’s superior characteristics as a digital store of value, combined with increasing institutional adoption, could drive the cryptocurrency’s value to new heights.

“If you consider Bitcoin’s historical price trajectory, I’d be surprised if we’re not at a $1 million by 2030 given the traction of ETFs and institutional buying now,” Roberts forecasted, quoted by Livewire Markets.

The cryptocurrency, currently trading around $100,000, has already posted a 120% gain over the past year, outperforming traditional assets as Wall Street giants increasingly embrace digital currencies.

Current price of Bitcoin. Source: CoinMarketCap.com

Why Bitcoin Could Leave Gold in the Dust

Roberts, a former Macquarie banker, also draws a stark comparison between Bitcoin and gold, likening the relationship to “digital versus analog” or “Netflix versus Blockbuster.”

“Bitcoin’s better at being gold, than gold is,” Richardson stated. “It’s scarcer, easier to transfer, and easier to divide. So, all those characteristics that give gold value, Bitcoin is objectively better at.”

Meanwhile, gold recently reached a record high of $2,840 per ounce, driven by inflationary concerns and increased physical demand, as evidenced by record COMEX futures trading volumes for February 2025.

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Bitcoin prive vs. gold price. Source: Tradingview.com

IREN vs. Bitcoin

Richardson’s company, IREN, which operates data centers for Bitcoin mining and AI services, has attracted investments from major financial institutions including Fidelity, Invesco, and Citadel.

Although mining company stocks are considered an indirect exposure to Bitcoin for investors, the shares of the former Iris Energy have not surged as dynamically as the world’s oldest cryptocurrency. In 2024, they gained 37%, but currently, they are up by just under 13%.

IREN, like the entire cryptocurrency industry, is facing challenges. Record-high BTC prices come with rapidly increasing mining difficulty, driving up the cost of producing a single Bitcoin. Companies are able to mine less due to the rising hash rate, while higher maintenance costs eat into their margins.

IREN’s struggles became evident in mid-2023 when the company reported a $29 million loss. While this marked a sixfold reduction in debt from the $172 million reported a year earlier, it highlights the difficulties of the crypto mining business.

In response, the company has decided to join the growing AI trend by repurposing its data centers to support high-performance computing. However, it has faced a class-action lawsuit alleging that it misrepresented its capabilities and future prospects to investors.

Will Bitcoin Hit $1 Million? Experts Prediction 2025 and Beyond

The prospect of Bitcoin hitting the highly anticipated $1 million mark remains a topic of intense speculation. According to Jeff Park, Head of Alpha Strategies at Bitwise Asset Management, one key catalyst could propel Bitcoin to this milestone: the establishment of a U.S. government-backed Bitcoin Strategic Reserve. However, the likelihood of such an initiative materializing in 2025 is estimated to be less than 10%.

“The idea of a federal Bitcoin Strategic Reserve happening in 2025 is less than a 10% chance event,” Park commented on X (formerly Twitter). “That’s the only math in which Bitcoin can hit $1mm+ in 2025 when it happens.”

The idea of a federal Bitcoin Strategic Reserve happening in 2025 is less than a 10% chance event.

That’s the only math in which Bitcoin can hit $1mm+ in 2025 when it happens.

— Jeff Park (@dgt10011) December 26, 2024

Park’s forecast suggests that while Bitcoin reaching seven figures is theoretically possible, the probability remains slim without significant institutional or governmental intervention. He specifically ties this scenario to the creation of a federal Bitcoin reserve, implying that a strategic accumulation of Bitcoin by the U.S. government could dramatically impact supply and demand dynamics.

However, many experts hold a more optimistic view on this matter. For example, PlanB believes that Bitcoin could reach this price level as early as this year.

Bitcoin Price Prediction Table

FAQ, Bitcoin Price Prediction 2030

Will Bitcoin go to 1 million?

According to Jeff Park, Head of Alpha Strategies at Bitwise Asset Management, a key factor that could propel Bitcoin to $1 million is the establishment of a U.S. government-backed Bitcoin Strategic Reserve. However, he assigns less than a 10% probability to this occurring in 2025, suggesting that a seven-figure valuation for Bitcoin in the near term is unlikely.

Can Bitcoin reach 1 million in 2030?

Daniel Roberts, CEO of Bitcoin mining company IREN, argues that Bitcoin’s superior characteristics as a store of value and growing institutional interest could push its price to this level.

Cathie Wood’s ARK Invest also projects that Bitcoin could hit $1 million by 2030, citing factors such as corporate treasury adoption, institutional investment, and even potential interest from nation-states looking to diversify their reserves.