Jack Dorsey expects Bitcoin to surpass $1 million in 2030

In an interview with Pirate Wires, Block CEO Jack Dorsey revealed his prediction for the price of Bitcoin, envisioning its value to exceed $1 million by 2030.

This bold claim doesn't just focus on the price of cryptocurrency. But Dorsey is fascinated by the vibrant ecosystem fueling its growth and everything cryptocurrencies represent.

Why is Jack Dorsey optimistic about the future of Bitcoin?

Dorsey believes Bitcoin will eventually reach and exceed $1 million. However, for him, the most surprising thing about Bitcoin goes beyond its price.

“The most surprising thing about Bitcoin, aside from the founding story, is that anyone who works on it, gets paid for it, or buys it for themselves – anyone who puts effort into improving it – improves it. The whole ecosystem is what drives the price. It's a great ecosystem and movement, more than anything else, it's taught me a lot. "He said Dorsey.

His company, Block, reflects his optimism through strategic financial maneuvers. On May 2, the company announced plans to adopt Dollar Cost Averaging (DCA) Strategy for Monthly Bitcoin Purchases.

This method, which involves significant investments in... Bitcoin regardless of price fluctuations to reduce the impact of volatility and achieve more favorable cost averaging over time.

Read more: ASI Artificial Intelligence Currency: All the details of the project and should you buy with AI wealth?

Starting in April 2024, Block will dedicate 10% of its total revenue from Bitcoin-related products to these acquisitions. The company clarified that it plans to purchase Bitcoin monthly on a two-hour basis, which has historically had the most liquidity.

By the end of March 2024, Block's initial investment of $233 million in Bitcoin had grown to approximately $573 million, an increase of 146%. This increase was greatly reinforced Net profit of the company In the first quarter of 2024, confirming the potential long-term gains from Bitcoin investments.

Meanwhile, Pantera Capital also predicts a bright future for Bitcoin, albeit with a more modest outlook than Dorsey. By August 2025, Pantera predicts price of $117,000 per bitcoin. He attributes this expected growth to the significant upside that typically follows each halving event, despite a recent correction to $57,000 post-halving in 2024.

Additionally, the market faces obstacles that need to be overcome. Pantera Capital spoke of resistance near the $63,000 level. As of this writing, Bitcoin is trading at around $63,000.

Learn more: Bitcoin Price Forecast 2024/2025/2030

However, significant growth potential remains if these obstacles can be overcome.