George Kikvadze, Executive Vice Chairman of Bitfury, has made a bold prediction that Bitcoin could eventually reach $10 million in value. In an interview with CNBC Television, Kikvadze stated that it is only a matter of time before Bitcoin hits $1 million and then $10 million, emphasizing its role as a digital gold and an investment against government irresponsibility and central bank money printing.
Kikvadze highlighted several key factors driving this potential growth, including global debt and quantitative easing policies, which increase Bitcoin's appeal as an anti-inflationary asset. He also pointed to the institutional wave of investment, spurred by entries from giants like BlackRock and Fidelity, noting that this began with Paul Tudor Jones' early support for Bitcoin.
Additionally, Kikvadze discussed the increasing capital intensity in Bitcoin mining and reiterated his long-standing belief that regulation is necessary and beneficial for cryptocurrencies. His prediction, shared on Twitter/X in October 2024, aligns with other industry figures like Arthur Hayes and Raoul Pal, who also foresee high valuations if current monetary policies persist.
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