Jack Dorsey Predicts Bitcoin Price To Hit At Least $1M By 2030: 'Hits That Number And Goes Beyond'

Jack Dorsey, Former CEO of social media giant Twitter, now X, made a super bullish prediction for Bitcoin BTC/USD, describing it as a fascinating ecosystem and movement. 

What Happened: Responding to a question posed by journalist Mike Solana on his Pirate Wires site about Bitcoin's price in 2030, Dorsey said he expects the digital asset to hit “at least a million,” and go beyond. 

The entrepreneur who set up one of the biggest social networks noted that Bitcoin's price isn't the most interesting aspect of the asset, but how it is expanding due to coordinated efforts by different stakeholders. 

“I don’t know. Over… at least a million. I do think it hits that number and goes beyond.”

"The most amazing thing about Bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves — everyone who puts any effort in to make it better — is making the entire ecosystem better, which makes the price go up," Dorsey remarked. 

Through the course of the conversation, Dorsey made more references to Bitcoin, at one instance praising its decentralized ideals. 

"It’s like Bitcoin, it doesn't have one leader or one central chokehold element. And I think that’s critical for what it's intended to do."

Why It Matters: The world's largest digital asset has jumped 50% since the year began, with optimism buoyed significantly by the introduction of Bitcoin spot ETFs. 

With easier access to the cryptocurrency market, institutional investors have jumped on the bandwagon, leading to $11.76 billion in cumulative net inflows into these products, according to SoSo Value. 

The soaring interest has led many influential names to come up with predictions that are, at times, unrealistic. Ark Invest CEO Cathie Wood recently forecasted that one Bitcoin would hit $3.8 million by 2030. 

Note that Ark Invest operates its own Bitcoin spot ETF, which has attracted $2 billion in net inflows as of this writing. As a result, her estimates may involve a conflict of interest.

Price Action: At the time of writing, Bitcoin was trading closer to $63,000, following a 2.73% growth in the last 24 hours, according to data from Benzinga Pro.

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