Bitcoin Could 100X in 10-20 Years Says Brad Mills

Bitcoin maximalist Brad Mills has predicted a significant rally for Bitcoin (BTC), forecasting a potential 100X increase over the next 10-20 years. This optimistic outlook is driven by several key factors, including institutional adoption, halving-induced scarcity, and technological advancements aimed at retail users. Mills believes that Bitcoin's transition from an "illegitimate asset" to a "must-own asset" will see corporations and nations hoarding it as a treasury and strategic reserve, similar to how El Salvador has accumulated 6,209 BTC and Michael Saylor's vision of a $200 trillion economy.

Mills' prediction is based on Bitcoin's fixed supply cap of 21 million and the halving mechanism, which reduces the supply by 50% every four years. This scarcity, coupled with growing demand, is expected to drive the price upwards. Additionally, technological developments such as the Lightning Network-powered payments by Square, a business arm of Block, Inc., and Chaumian eCash mints like CashuBTC, are anticipated to boost Bitcoin's transactional use and enable small retail savers to accumulate sats.

Mills forecasts that Bitcoin could reach $10 million over the next decade or two, with bear market drops softening to 50% and bull runs peaking at 200% annually. This contrasts with BTC’s historical 80-90% corrections. However, Blockstream CEO Adam Back suggests a "parabolic breakout" possibility, where Bitcoin could experience a steeper upward surge driven by growing adoption and reduced market volatility, challenging conventional models like the Stock-to-Flow (S2F) and power-law predictions.

Recent policy shifts, such as the establishment of a Strategic Bitcoin Reserve by the US government, mark a potential shift in Bitcoin’s market dynamics. The reserve, initiated with 200,000 BTC seized from past criminal cases, signals a policy pivot towards holding, not selling, Bitcoin assets. This move, backed by Senator Cynthia Lummis’s Bitcoin Reserve Act and President Trump’s executive order, suggests a long-term commitment to Bitcoin without relying on taxpayer funds. Veteran investor Chris Dunn believes such developments could reduce the influence of Bitcoin’s internal price drivers, shifting attention to external macroeconomic forces and potentially evolving Bitcoin into a global strategic asset.

However, the 100X forecast for Bitcoin hinges on speculative variables such as regulatory clarity and sustained institutional investor demand. While Mills' prediction is optimistic, it is important to note that it is based on several assumptions and external factors that could influence the outcome. The market's response to these developments and the actual adoption rates by institutions and nations will play a crucial role in determining the future trajectory of Bitcoin's price.