Crypto expert predicts that Bitcoin will eventually reach USD 1 million

As the value of crypto assets continues to rise in recent months, one expert predicts that the most popular coin, Bitcoin, will eventually reach $ 1 million based on its current performance.

Oloin Leech, editor of CoinDesk Learn, said on Yahoo Finance Live that he believes the coin is well on the way to continued financial profitability.

“Bitcoin will cost $ 1 million per coin,” he told the outlet. “I actually believe that at some point just because of the scarcity aspect, it will become an incredibly exciting asset.”

“Bitcoin is undisputed,” he added.

According to Leech, when the number of bitcoins miners receive is cut in half during an event known as the “halving” event, the timing of Bitcoin’s price spike may be after 2024. The last halving occurred on May 11, 2020, and according to Investopedia, both of the most recent halves correlated with significant spikes for the coin.

“The year after the halving always seems like a huge increase,” said Leech. “I do not know when [bitcoin will cross $1 million USD] but it will probably be after 2025. ”

Bitcoin’s current market cap is over $ 1 trillion, according to CoinDesk. The coin rose to $ 58,266.24 on Thursday morning before falling sharply. The largest cryptocurrency has risen more than 600 percent since May 2020.

Last month, Venmo announced that users could trade cryptocurrencies through their app. This is a step forward in making crypto more accessible.

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