Bitcoin Maximalist Predicts 100X Rally Over Next 20 Years

Bitcoin maximalist Brad Mills has predicted a significant rally for Bitcoin, 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 Square's rollout of Lightning Network-powered payments by 2026 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 Bitcoin'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 US government's establishment of a Strategic Bitcoin Reserve, mark a potential change 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 that 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.

While Mills' 100X forecast is optimistic, it hinges on speculative variables such as regulatory clarity and sustained institutional investor demand. The idea of a "Saylor Cycle," driven by institutional and national adoption, aligns with Mills' thesis but remains subject to market uncertainties and external factors. Despite the potential for significant growth, investors should conduct their own research and consider the risks involved in Bitcoin investments.