Willy Woo Outlines Road to ‘Easy’ $1 Million Bitcoin Valuation

By Ben Knight May 13, 2024 In Bitcoin, Market Analysis
Source:AdobeStock
  • Bitcoin analyst and social media commentator Willy Woo believes that Bitcoin’s path to USD $1M is clear.
  • Woo suggests that BTC will eventually become a global reserve currency, as well as revolutionise how central banks operate around the world.
  • Importantly, he believes the next generation of global leaders will be more open to digital assets, pushing the price of BTC up coming into the next decade.

You’d be forgiven for not following the crypto markets over the past month. Most assets have been in a holding pattern, ranging between two points without any sign of escape. 

The next major event on the calendar will be the SEC’s official decision on whether they allow US spot Ether ETFs – which at the moment, appears unlikely. But until then, investors may have to be patient, as the dust settles from the chaotic, institution-led bull run to kickstart 2024. 

Bitcoin (BTC), monthly graph, source: CoinMarketCap

But even though the rush into Bitcoin has slowed, analyst Willy Woo believes the emphatic opening to this year has set the coin up for a million-dollar valuation within the next decade.

Related: Crypto Analyst Says Bullish Cycle Not Over, Predicts $100,000 Bitcoin in Fourth Quarter – But There’s a Catch

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Seven Figures In A Decade? Willy Woo Says It’s Not Just Possible – But “Easy”

Bitcoin racing past the USD $100K mark has always been on the bucket list of most crypto investors. Earlier this bull season, there were times when it looked like it was on course to break the barrier sooner rather than later. 

However, as hype around ETFs and the halving eventually halted, most of the community were content with a new ATH around USD $70K (AUD $106K) for the time being.

$100K is set to be the next milestone – when this might happen, nobody can predict. But Willy Woo is looking well beyond the six-figure goal. He’s more interested in adding an extra zero to that number.

According to Woo, the path toward a one million dollar valuation for Bitcoin “will happen easily in the next 10 years”. 

He believes there are several catalysts that could see BTC become this juggernaut:

  • Bitcoin to become a global reserve currency, replacing the USD. (Not sure that the US will be super happy about this one, but anyway…)
  • Central banks will become more transparent as pressure from DeFi forces corruption out of the industry
  • Wars (trade and otherwise) become more expensive and reliant on digital assets for funding
  • The current, older leadership will age out allowing for a new generation of leaders to move the economy forward

All of these factors will supposedly lead BTC to a USD $1M (AUD $1.52M) price within the decade.

Frankly, Bitcoin hitting on every single one of these events seems unlikely. 

But even just a couple of them becoming true – in particular phasing out the “old guard” of leadership – may lead to a DeFi explosion toward the end of the 2020s.

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Ben Knight
Author

Ben Knight

Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.

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