Jack Dorsey predicts that Bitcoin will be worth $1 million by 2030

Jack Dorsey, the co-founder and former CEO of Twitter, recently made a striking statement about the future price of Bitcoin (BTC), predicting a significant increase in the value of this important cryptocurrency.

“Forecast of ‘At least $1 Million’

During a conversation with journalist Mike Solana on Pirate Wires, Dorsey shared his positive outlook on the future of the largest cryptocurrency, suggesting that Bitcoin’s price could rise to at least $1 million by 2030.

This eye-popping prediction comes at a time of major change for Dorsey, including his departure from the board of decentralized alternative BlueSky, which he co-founded in 2019. Concerns have been raised about the project potentially veering away from true decentralization following Dorsey’s leaving BlueSky.”

Emphasizing the importance of a collaborative ecosystem within Bitcoin, Dorsey emphasized the role of collaborative efforts in strengthening the value of the network. His view of the Bitcoin ecosystem reflects his disappointment with BlueSky’s deviation from its original vision of an open-source protocol.

Block Company is subject to regulatory supervision

While attention is focused on Bitcoin’s exponential growth potential, Dorsey’s fintech company, Block, is currently under regulatory scrutiny. While Block has committed to investing 10% of gross profits from Bitcoin-related products into buying more BTC per month, reports of compliance violations in its payments divisions, including Square and Cash App, cast a shadow over this optimistic plan.

The resistance of the Bitcoin price to regulatory uncertainties is striking. Despite ongoing regulatory concerns in the crypto market, Bitcoin’s price remains stable between $61,000 and $64,000, and experts anticipate a strong upward move following this consolidation.

At the time of writing this article, Bitcoin is up 2.52% in the last 24 hours and is trading just above $63,000 at $63,012. While factors such as a weakening US dollar and weak US labor data have provided some support to the Bitcoin price, fears of more regulatory actions against major players in the crypto space are weighing on the market.