x
Bitcoin advocates think the cryptocurrency has not reached its full potential yet and it will soar more.
While ARK Invest CEO Cathie Wood thinks Bitcoin's price will hit $1.5 million, Strategy (Nasdaq: MSTR) co-founder Michael Saylor projects a $13 million price for the asset.
Related: What is Crypto? Cryptocurrency explained
However, there is one analyst who thinks such predictions are rather modest.
Popular crypto analyst Joe Burnett shared his assessment on March 1, as per which two contrarian transformations will drive Bitcoin to $10 million in 10 years.
The global financial system stores $900 trillion in assets that are subject to dilution or devaluation, Burnett wrote. But Bitcoin is the first and only monetary asset with a fixed supply which he argued makes it immune to both.
The more wealth stored is in traditional assets like gold, real estate, or equities, the stronger is the market incentive to devalue them, he said and added that capital is now flowing into Bitcoin that cannot be diluted or devalued.
Another transformation Burnett mentioned is exponential advances in AI and robotics which he thought are set to make goods and services abundant. As automation slashes costs, everything will be far more affordable, he added.
Burnett said,
"A person holding 0.1 BTC today (~$10,000) could see its purchasing power increase 100x or more by 2035 as goods and services become exponentially cheaper."
A fiat system artificially suppresses natural deflation through inflationary policies which hike prices up despite technological progress, he argued. Bitcoin removes this distortion, allowing true deflation to emerge.
If Bitcoin hits $10 million, its total market cap would be around $200 trillion. The figure represents only 11% of total global wealth if the latter continues growing at 7% annually, Burnett made the claim.
If an industry as "mundane" as wine is expected to reach $528 billion by 2030, Bitcoin with absolute scarcity reaching similar scale is entirely reasonable, he explained.
This story was originally reported by TheStreet on Sep 10, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
