U.Today – Data shared on the X platform indicates that the first prediction of a theoretical future value of $10 million per coin was made by a person close to Satoshi Nakamoto.
The author of the post noted that all the complaints about the predictions of Bitcoin reaching a value of $1 million pale in comparison to the earlier, ultra-optimistic forecast.
Here’s the first person to say Bitcoin could hit $10 million
According to user @Vivek4real_ X, the first prediction of Bitcoin potentially rising to $10 million per coin in the future was none other than Hal Finney – the recipient of the first Bitcoin transaction from the enigmatic Satoshi Nakamoto himself.
Many, however, believe that Hal Finney is Satoshi’s real name. There is no way to know for sure now, as the cypherpunk unfortunately passed away 10 years ago – on August 28, 2014. He suffered from amyotrophic lateral sclerosis (ALS), diagnosed in 2009 (the year Bitcoin was launched), and died at the age of 58.
In X’s post, @Vivek4real_ shared a screenshot of Finney’s letter, in which the latter outlined the conditions under which Bitcoin could rise to $10 million per coin in the future. According to Finney, for that to happen, Bitcoin needs to become “the dominant payment system used worldwide.” In that case, the “Satoshi candidate” continued, the total value of Bitcoin needs to reach the equivalent of the total value of the world’s wealth.
In 2009, the world’s total household wealth was between $100 and $300 trillion. Divided by 20 million (somehow used by Finney instead of the 21 million total Bitcoin supply) this would mean that each BTC is worth about $10 million.
Finney went on to note that mining Bitcoin with just a few cents worth of computing time could prove to be “a pretty good bet with profits in the range of $100 million to 1.”
Bitcoin to Reach $10 Million in 21 Years
This week, during a visit to CNBC’s Squawk Box, Bitcoiner and MicroStrategy CEO Michael Saylor made a similar prediction. He expects BTC to hit $10 million in 21 years—once Bitcoin has absorbed about 7% of the gold market. It currently holds just 0.1% of that.
Many Bitcoin holders supported this upbeat forecast.
