Bitcoin to $1M? Adoption and Fiscal Stress as the Catalysts

I agree with Mike Novogratz that two forces — broad social and institutional adoption plus worsening fiscal/macroeconomic stress — could plausibly push Bitcoin toward $1 million over the long term.

I treat Bitcoin increasingly as a form of digital gold: stronger institutional endorsement and sustained retail acceptance improve liquidity and reduce narrative risk, making significant upside possible if adoption continues and macro pressure mounts.

However, I prefer a gradual, demand-driven rise; a crisis-driven spike would bring extreme volatility, regulatory backlash, and heightened tail risk.