Chamath Predicts Bitcoin Will Hit $1.14M—Here’s Why It Might
Chamath Palihapitiya predicts Bitcoin will reach $1,140,000, citing halving cycles, de-dollarization, and institutional investment.

Chamath Palihapitiya has gone as far as to forecast a price of up to 1,140,000 of Bitcoin in this cycle. To support this argument he refers to the halving in Bitcoin in the past. Block rewards and supply are cut down due to these halving cycles. History tells us prices will tend to go up steeply following such events. To illustrate, the Bitcoin climbed more than 87 folds after the 2012 halving. In the year 2016, it increased by over 45 times. Halving in 2020 also resulted in significant price increase in 18 months. Chamath thinks that a similar scenario could happen once again.
This forecast is made on the basis that declining demand will be covered by increasing demand. Halving cycles long-term trend The long-term trend of halping cycles can see powerful upward price flow. In case it is repeated, it is possible that Bitcoin faces yet another bull run. He stresses on patience. Major price changes are observed with intervals of 6 18 months after halvings.
Digital Gold Bitcoin During the De-Dollarization
Chamath associates the future of the Bitcoin with the movement of the world beyond the U.S. dollar. Bitcoin can emerge as a reserve asset as countries look to alternatives. It is a limited supply coin with 21 million coins in circulation hence it is a hedge against inflation. He draws the analogy between Bitcoin and gold as far as scarcity and trust are concerned. This transition, which is also referred to as de-dollarization, may make the capital flow into Bitcoin.
Even investors tend to get involved. With the introduction of bitcoin ETFs, the main actors can easily invest. Any say at all in the pension funds could see such a huge increase in the price. There is also the network effect value. The more people that adopt Bitcoin, the more trust and usage will be built into it, further firing it up. According to Chamath, it is the perfect storm to blow things up exponentially.
Institutional Demand and Mathematical Projections
When using the number of 1.14M, Chamath argues using the market cap of gold to support this number. The cap of Gold is more than 15 trillion and that of Bitcoin is significantly less. In case of achieving 10 percent of the value of the gold, Bitcoin may jump to the price level above 700,000. He also considers the limited supply in circulation by Bitcoin, which happens to be less than 20 million coins. Its scarcity premium is augmented by this low float.
The exponential growth models of halving cycles in the past used by Chamath are also used. Assuming that Bitcoin takes at least the average between the last two, this can be achieved in the target at 1.14M. The forecast is based on the snowball effect of low supplies, high demand, and the availability of the mainstream investment, the ETFs. It is a confident yet statistic-based opinion of what is to become of Bitcoin.

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