Recently, I noticed that people on Wall Street have started calling Bitcoin’s target price as high as 1 million USD. Honestly, I was a bit shocked when I first heard it. Matthew Sigel, the Digital Asset Research Director at VanEck, said in a media interview that he believes Bitcoin has a chance of reaching that level within 5 years.

Right now, BTC has only just gone past 80,000+ USD, so jumping to 1 million does sound pretty crazy. But interestingly, similar voices are actually quite common in the crypto world and on Wall Street. Bitwise’s Chief Investment Officer, along with some political and business figures, has recently also floated similar bold predictions. Even VanEck’s CEO forecasted a target of 300,000 USD as early as last year.

Matthew Sigel used a pretty interesting analogy to explain why he’s so confident about the 1 million figure. He said it’s like the evolution of the esports industry—30 years ago, nobody took playing games seriously, but now even the world’s richest person is playing; once people fall in love with something, it’s hard to let go. Bitcoin follows the same logic: as more and more people come into contact with it and learn about it, they basically won’t get off the train easily.

He also mentioned that even central banks are starting to include Bitcoin in their reserves, which suggests that a super trend has already taken shape. Although the process may be highly volatile, the overall direction has already been set.

That said, I have to say: for those who are bullish about reaching 1 million, their own interests are closely tied to the ups and downs of the coin price. VanEck itself is the issuer of a Bitcoin spot ETF, so the higher the price, the more they earn. Some people have even participated in crypto mining or related companies. So when you hear these voices, it’s still worth thinking about the motives behind them.

But then again, based on changes in demographics and young investors’ willingness to allocate their assets, this trend is definitely worth paying attention to. The goal of 1 million USD may sound far away, but against this kind of broader backdrop, it’s not that impossible either.