Bitcoin’s long-term role as a global store of value may be closer than many expect, according to billionaire investor Chamath Palihapitiya.
Speaking on the current market cycle, he argued that BTC could climb as high as $1.14 million before the cycle ends, eventually displacing gold as the world’s preferred hedge.
Rather than focusing on short-term trading, Palihapitiya framed his view around two forces shaping the market: Bitcoin’s halving-driven supply shocks and the surge of institutional inflows through spot ETFs. He described ETFs as a “game changer,” saying they have created a turning point in adoption by making Bitcoin more accessible to major investors.
Looking back at previous market cycles, Palihapitiya said his target was derived from average growth patterns, not from speculation or financial advice. He stressed that past data from the second and third cycles points toward significant upside potential in the current phase.
The investor also shared his outlook on how Bitcoin might fit into everyday economies. While national currencies are unlikely to disappear, he predicted more countries will operate in a dual model—using fiat for daily transactions while turning to Bitcoin as a long-term reserve. In that framework, BTC would naturally absorb the role that gold has played for centuries.
If Bitcoin reaches the levels Palihapitiya outlined, it would mark one of the largest shifts in modern financial history, placing the digital asset at the center of wealth preservation on a global scale.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.