Bitcoin Could Reach $1 Million by 2031

A long-term price model suggests that Bitcoin (BTC) could approach $1 million by early 2031. Samson Mow, CEO of JAN3, unveiled the Omega60 long-term price model on the 18th. This model was developed for the Bitcoin bond project in El Salvador in 2022 and assumes a long-term average growth rate of 60%, based on a median annual return of approximately 59.7% for Bitcoin from 2014 to 2022. Currently, Bitcoin's price trajectory is around $118,000, with expectations to reach approximately $785,000 by 2030 and $1 million by early 2031. JAN3 stated that this model is intended to describe long-term price trajectories rather than short-term price targets. Mow also mentioned a common conclusion from the price models that Bitcoin will reach $1 million between 2031 and 2033. The long-term price outlook for Bitcoin has varied opinions in the market, and this model emphasizes long-term adoption and price trajectory over short-term fluctuations. However, the 60% growth rate is based on historical medians, so actual market prices may differ.

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