Winklevoss Says Bitcoin Could Hit $1M as It Challenges Gold
- If Bitcoin is “gold 2.0,” its price could hit $1M by disrupting gold’s market cap.
- He predicts Bitcoin will become the world’s reserve currency as adoption begins to rise.
- Winklevoss believes Bitcoin is early in its cycle, with potential for a tenfold rise.
At the Bitcoin Amsterdam 2025 conference, Tyler Winklevoss stated that if Bitcoin is ‘gold 2.0,’ it would need to disrupt gold’s market capitalization, implying a potential price of around $1 million per Bitcoin. He argues that Bitcoin will become the global reserve currency for the world and that its run has only just begun.
Winklevoss notes that if Bitcoin climbs to $1 million per coin from the roughly $100,000 level, the rise would reflect a tenfold increase. He drew an American sports analogy: the market might be in the bottom of the first inning.
Why Bitcoin Could Reach $1 Million
The core idea is to compare Bitcoin’s potential market cap with gold’s current market cap. Gold’s global market cap sits at more than $29 trillion today. Meanwhile, Bitcoin’s market cap hovers around $1.8 trillion. Therefore, matching gold’s entire market value could push Bitcoin far higher than today’s price.
Winklevoss calls Bitcoin “digital gold,” highlighting its capped supply of 21 million coins. Limited supply and rising demand could support aggressive price growth. He argues that widespread adoption and global reserve-currency status would drive demand. That demand would likely push the price upward quickly if the asset class expands.
They believe many investors have not yet joined the market. Winklevoss sees institutional money as still largely outside Bitcoin. They expect new inflows from investors and institutions globally. They suggest that as adoption expands worldwide, Bitcoin’s perceived value may strengthen.
Winklevoss’s argument also highlights Gold’s shortcomings. Gold is cumbersome due to physical storage, transportation expenses, and limited liquidity. On the other hand, they consider Bitcoin to be more accessible, digital, and borderless. These features make it a better fit for global reserves in a digital age.
What This Means for Investors and Global Finance
If Bitcoin reaches such a valuation, the implications would be significant. Global reserves could shift partly from gold to Bitcoin. That shift could reshape national reserve portfolios. It could also affect global financial asset allocation.
For retail investors, the message could encourage long-term holding. For institutions, the argument could support allocating funds to crypto assets. But adoption needs to expand worldwide. Infrastructure upgrades and regulatory clarity are still required. Winklevoss’s viewpoint assumes increasing global trust in Bitcoin’s stability and security.
The prediction also signals high volatility ahead. Big moves and rapid rises often come with wide price swings. Investors should stay aware of risks. Price swings could be sharp if adoption and sentiment shift quickly.
Related: Bitcoin Bounces Above $89K as Capitulation Pressure Climbs
Meanwhile, Bitcoin’s journey remains uncertain. Many market watchers remain skeptical about whether Bitcoin can truly displace gold. They question whether a digital currency can equal the centuries-old significance of gold in international finance. They also point out challenges regarding regulation, volatility, and institutional adoption.
Nevertheless, the Winklevoss brothers frame their forecast as a long-term vision. They see $1 million per coin not as a pipedream but as the minimum valuation if Bitcoin disrupts gold. They view current market conditions as early innings and that a decade or more of growth may lie ahead.
In conclusion, the bold claim sets a high bar for Bitcoin’s future. It challenges investors and global finance alike to rethink value stores. If Bitcoin follows that trajectory, it could redefine what “reserve asset” means in a digital world. For now, its supporters remain optimistic. The world may still be at the start of its digital-gold journey.
