Bitcoin At $1 Million? BPI Says One US Move Could Make It Happen
The “Bitcoin Policy Hour” podcast discussed the potential impact of a U.S. government policy decision on Bitcoin prices. Executive Director Matthew Pines highlighted the stability challenges facing the dollar-based monetary system since 1973, particularly due to the rise of nations like China. Head of Policy Zach Shapiro noted concerns about trust in the U.S. dollar and suggested gold as an alternative reserve asset, especially after the U.S. froze Russian Treasury reserves. Shapiro proposed that revaluing gold could generate significant funds for Bitcoin purchases, potentially adding nearly a trillion dollars to the Treasury's balance sheet. The podcast also addressed a White House executive order establishing a Strategic Bitcoin Reserve, requiring agencies to audit digital assets. While methods for acquiring Bitcoin remain unclear, Shapiro indicated that a U.S. announcement of buying a million Bitcoin could drastically increase its price, potentially reaching one million dollars per Bitcoin, with significant geopolitical implications. At press time, Bitcoin traded at $83,594.
