Investment strategist Lyn Alden has tipped Bitcoin to trade at $1 million per coin in the next decade.
Lyn Alden, the famous author of “Broken Money,” has set a lofty price target for Bitcoin. In an interview, she predicted the premier asset would hit $1 million in the next eleven years.
Alden asserted that a $1 million Bitcoin price is on the cards, considering the recent increased adoption around the crypto asset. The seasoned financial author further noted that she sees Bitcoin trading that high if it continues to be “the leader in digital assets and a portable store of value.”
$1 million by 2035 Feasible
Alden agreed with Ark Invest CEO Cathie Wood’s $1 million prediction call. However, she stated that her timeline was too aggressive.
For context, Wood speculated earlier that Bitcoin would hit seven figures by 2030. The Ark Invest CEO cited institutional traction towards the asset and the possibility that it would hit a $20 trillion market cap as reasons behind the call.
The Broken Money author stated that she feels Bitcoin would take longer than six years from now to trade at $1 million. According to her, 2035 would be more feasible for the asset to surge to seven figures.
Notably, the seven-figure Bitcoin speculation coincides with projections from other prominent players in the crypto industry. For instance, X (formerly Twitter) founder and ex-CEO Jack Dorsey tipped the largest crypto asset to hit $1 million by 2030.
Aurelion Ohayon, the creator of the XOR trading machine, shared a similar sentiment, predicting that Bitcoin could spike to $1 million. However, he based his call on the prospect that the asset would repeat the immaculate upward trajectory it recorded between 2013 and 2017.
It bears mentioning that the hypothesis that Bitcoin would get to $1 million would entail a 1,667% surge from its current price of $60,000. Such price action is not new to Bitcoin, as the asset has grown by a much more substantial margin since its market debut in 2010.
Bitcoin Will Outperform Gold
Alden stated that she thinks Bitcoin will trump gold, the largest asset by market cap, in the future. Currently, gold is capped at $17 trillion, over 13 times the size of Bitcoin’s market cap.
The author sees both assets gaining more prominence in the future but states that Bitcoin will outperform the precious metal. Notably, gold has been on a bullish run recently, hitting an all-time high of $2,589 on Monday.
Furthermore, Alden asserted that not buying into Bitcoin at this point would be criminal. She noted that the best buy in the global market today was Bitcoin, as the premier asset has long-term potential for outrageous returns.
“Anyone in traditional finance that has no Bitcoin positions should have a Bitcoin position,” Alden added.
