Bitcoin’s price surged over 1,900% during Donald Trump’s first term, despite his initial criticism of the cryptocurrency. Now, as Trump returns to office with a pro-crypto stance, some analysts believe Bitcoin could be on track to reach $1 million per coin by the end of his second term.
Trump’s Shift to a Pro-Bitcoin Stance
During his first term, Trump famously dismissed Bitcoin as “highly volatile” and “based on thin air,” even tweeting in 2019 to warn against investing in it. However, with Trump’s recent commitment to turning the U.S. into a “Bitcoin superpower” and plans to deregulate the crypto sector, market optimism has soared. Bitcoin reached an all-time high of $76,400 shortly after Trump’s victory announcement, driven by his promises of favorable policies for cryptocurrency.
Analysts Weigh in on Bitcoin’s Million-Dollar Potential
If Bitcoin’s price were to climb another 1,900%—matching its performance during Trump’s first term—the cryptocurrency would reach approximately $1.5 million. This would elevate Bitcoin’s market cap to around $28.5 trillion, making it substantially larger than Nvidia and 1.6 times the size of gold’s current market capitalization.
Although ambitious, this $1 million target has been echoed by several high-profile analysts over the years. ARK Invest CEO Cathie Wood has forecasted that Bitcoin will hit $1 million by 2030, citing growing interest from major financial institutions like Morgan Stanley and Bank of America. With a pro-crypto administration, many experts anticipate an acceleration in institutional adoption.
Henry Arslanian, co-founder of Nine Blocks Capital Management, shared similar enthusiasm, predicting that Trump’s policies will draw more institutional investors, including asset managers and family offices, into the U.S. crypto space.
Post-Election Bitcoin Price Targets: $100,000 to $250,000
Analysts have set various price targets for Bitcoin in the wake of Trump’s reelection. Crypto research firm 10x Research predicts that Bitcoin could reach $100,000 by January 2025, noting that Bitcoin often experiences significant returns after reaching new six-month highs. The firm highlighted that similar patterns in Bitcoin’s price history indicate a median return of 40% within the next three months after such milestones.
Independent analyst Mags offers a more bullish target, forecasting that Bitcoin could climb to $250,000 within the next year. Citing historical trends, Mags points out that Bitcoin’s price jumped 2,747% following the 2016 election and 360% post-2020 election. With a pro-Bitcoin administration, Mags believes even a 240% rally could bring BTC to a quarter of a million dollars.
Will Bitcoin Reach $1 Million by 2028?
With rising institutional interest and supportive policies on the horizon, Bitcoin’s potential to reach $1 million is not entirely out of reach. If major investment banks and asset managers enter the market as expected, Bitcoin could witness unprecedented levels of liquidity and valuation.
While a million-dollar Bitcoin remains speculative, the combination of Trump’s policies and strong market momentum could lay the groundwork for Bitcoin to reach new all-time highs in the coming years.
