In an in-depth evaluation shared on the social media platform X, Fred Krueger, a renowned crypto analyst and the previous founder and chairman of Traffic Marketplace, delivered a staggering forecast on the long term trajectory of Bitcoin. Krueger’s daring prediction posits that BTC’s price could eclipse the $10 million mark inside the following 10-20 years.

Why Bitcoin Price Could Reach $10 Million In 2 A few years

Krueger’s projections are rooted in an in depth examination of adoption trends, technological advancements, and a comparison with the expansion trajectories of major technological innovations and social media platforms. His evaluation begins with a retrospective query posed by Tom Lee in 2019 with reference to the actual number of crypto owners, which was then estimated to hover around 500,000.

This figure was partly derived from the subsequent on “crypto Twitter,” where having 100,000 followers might denote influencer status throughout the BTC community. Krueger points out a stark contrast throughout the metrics of influence as compared to mainstream social media giants.

“You really want 10 Million followers to be a star on Instagram versus a 100K to be a star on Bitcoin Twitter,” he highlights, using this disparity to underline the nascent state of BTC’s current adoption when juxtaposed with global social media phenomena.

Krueger’s insights extend beyond mere follower counts, venturing into the realm of adoption percentages and the potential growth trajectory for Bitcoin. He shared, “Allowing for growth since 2019, I’ll put that number at 2 Million today. But as with all tech, once adoption really starts, it reaches MUCH higher percentages.”

His reflections on competing with Facebook in 2006 along together with his company, Tagworld, provide a historical lens through which to view Bitcoin’s potential. “Now 3 Billion people use social media,” he stated, drawing a parallel to suggest that the identical explosion in user base is likely to be on the horizon for Bitcoin. Krueger boldly estimated, “I would guess, in 20 years 2 Billion people will use Bitcoin,” suggesting a 1000x increase in adoption.

The Path To 2 Billion Users

The cornerstone of Krueger’s argument lies throughout the fixed supply of BTC and its implications for price as adoption scales. “If the price is $48,000 with 2 Million users, and the provision is fixed, imagine where we’ll get to with 2 Billion users,” he elaborates, providing a transparent rationale for his prediction.

Addressing potential skepticism and the competitive landscape of cryptocurrencies, Krueger stays unwavering in his belief in BTC’s supremacy. “So, Bitcoin has an instantaneous goal of 1 Million which is parity+ to gold, and we get there this cycle. After which with adoption, we get to the crazy numbers. All you’ll wish to do is buy it and NOT sell it,” Krueger asserts, emphasizing Bitcoin’s unique value proposition and its fixed supply as key differentiators that may drive its unparalleled adoption and value increase as compared with other digital assets.

Furthermore, Krueger delves into the mechanisms that will speed up Bitcoin’s journey towards widespread adoption. He points to the pivotal role of economic instruments like spot ETFs in democratizing access to BTC for a whole lot of 1000’s of American investors.

“The ETF goes to be an infinite first phase in adoption. Getting a giant percentage of those to own a Bitcoin ETF in the following 5 years is just not that difficult,” Krueger predicts, underscoring the ETF’s potential to bridge the gap between traditional finance and Bitcoin for mainstream investors.

Though, technological advancements, particularly in enhancing Bitcoin’s scalability and usefulness through Layer 2 solutions and trustless wrapped BTC, are highlighted as critical enablers of a much greater wave of adoption. Krueger argues for the necessity of consumer-grade applications which will facilitate BTC’s transition into mass-market use cases.

“We would like consumer-grade apps to broaden Bitcoin to mass-market use cases. That’s what EVENTUALLY makes Bitcoin win,” he points out, signaling his confidence throughout the technological evolution that may underpin the cryptocurrency’s ascent.

Overall, Fred Krueger’s evaluation offers a compelling narrative on Bitcoin’s potential trajectory, mixing historical parallels, economic principles, and technological advancements. His prediction of BTC reaching $10 million in the following 10 to twenty years is just not merely an optimistic forecast but an in depth vision grounded in a deep understanding of market dynamics.

At press time, BTC traded at $48,051.

Featured image created with DALL·E, chart from TradingView.com