This is an age old argument. Possibly the oldest one since Bitcoin's inception.

There is this school of thought that believes that bitcoin will be priced at $1 million dollars someday.

There is usually a lot of speculation around the future price possibility of bitcoin and most other cryptocurrencies. Most of them are fueler by bagholders hope (in the case or ripple) but the others ar fueler by a complete lack of understanding of how the mechanics of price work.

I have seen many articles on this site claiming that Bitcoin could reach $350000 or $1 million or even $10 million per coin. It simply shows a lack of understanding of how pricing assets works.

See it this way: For bitcoin to be worth 350000 dollars (30.4x it's current value), that would mean Bitcoin's market cap would have to be 4 trillion, 12 billion dollars. Just to reach 350000. You can hopefully see how absurd hoping for $10000000 is.

Most people make these crazy claims becaus they want to buy $100 worth of bitcoin and become millionaires in 5 years. But that's not going to happen. Because it can't happen.

Market cap controls the price of a coin. Market cap is given as circulating supply × current market price. For price to increase, market cap must also increase. Which means either price must go up a huge lot, or supply must decrease while price goes up a bit.

That is why some tokens undergo " token burns", which is where they destroy some of the supply to hopefully lead to an increase in price.

The more scarce something is, the more valuable it is perceived to be.

So no, bitcoin can never be priced at a million dollars.

A more conservative price fore would be $33000 or $50000 max. Keeping all price factors in check.

Thanks for reading.