Why Bitcoin Might Just Hit $10 Million (And Other Wild Speculations)

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On the latest dazzling episode of What Bitcoin Did (because apparently, Bitcoin has feelings now), Eric Yakes-the co-founder of Epoch, a Bitcoin Venture Capital circus-laid out a sweeping thesis that’s roughly the intellectual equivalent of betting your lunch money on a chimpanzee playing chess. His argument? Bitcoin might just soar to an eye-watering $10 million per coin. Yes, a single coin. Powered by a mass movement that’s part cult, part geopolitical chess game, and an institutional bid still in its infancy (kind of like a toddler with a pile of Legos). “Bitcoin is going to be at $10 million in probably like seven years,” Yakes confidently proclaimed, adding that the market is “always and everywhere like one major press release away from a huge change in perception.” So basically, one tweet from Elon and we’re all billionaires. Or bankrupt. Fingers crossed! 🤞

The Path To $10 Million For Bitcoin

Forget numbers; Yakes starts with the sociological heavy lifting. Bitcoin’s edge, he says, is its fanatical, cult-like following-“No other asset has a mass movement or revolution backing it,” he claims. Think of it as the financial equivalent of a perennial rabbit hole that pops up whenever prices dip. This is their “Fed put,” a mystical force backed by believers treating Bitcoin as a political and monetary hedge rather than just another rollercoaster trade. He pulls out Eric Hoffer’s The True Believer to classify Bitcoin’s evolving fan base: first “men of words” (the cryptic cypherpunks), then “fanatics” (those early zealots who probably screamed, “To the Moon!” more than once), and now “men of action” (the suit-wearing folks who are scaling and consolidating the whole spectacle).

This cultural earthquake intersects with a fresh adoption curve. Unlike the 2017 frenzy of retail mania, the new regime is Wall Street’s shiny playground-corporations, asset managers, and even governments tiptoeing in. Yakes treats Wall Street’s love affair with Bitcoin as less about cash flow and more about narrative magic. BlackRock’s Bitcoin fund? Apparently one of the “most profitable products” in a heartbeat. Who knew big finance could be so surprisingly profitable sometimes? 🤑

Wider wealth managers are starting off cautiously optimistic, dabbling with 1-2% Bitcoin allocations while watching if the coin finally shakes off its correlation with other risky assets. “When Bitcoin acts more like gold,” Yakes explains, “that 1-2% allocation could rocket to 30% faster than you can say ‘HODL,’” potentially gobbling up gold’s market like a financial Pac-Man.

Politics, once a headwind (usually an unpredictable hurricane), now seems like a tailwind. With President Donald Trump’s less-than-subtle Bitcoin signaling, Yakes points out that the mere vibes of presidential support matter more than actual coin purchases. “Signaling,” he says, is king- because once Bitcoin backing loses its stigma, institutional adoption will snowball. Sure, critics might say symbolic gestures aren’t policy, but markets run on narratives, not logic. Elite endorsements shrink career risks, widen buyer pools, and magically smooth volatility, all with a wave of the narrative wand.

The Post-2022 Macro Shift

Yakes’ grand scaffolding hinges on the post-2022 reserve shuffle. Thanks to sanctions and global distrust, nations are swapping foreign IOUs for cold, hard commodities. Gold accumulation continues, but Bitcoin, with its “synthetic commodity” charm (fancy talk for “digital stuff you can’t confiscate”) is the promising understudy-once the market gets deeper and less like a kiddie pool. Sovereign liquidity is the bottleneck because moving billions without crashing the market is the financial equivalent of trying to do the cha-cha on a frozen pond. Corporate treasuries are the trusty bridge here. Imagine if the top 10 U.S. companies threw just 15% of their cash into Bitcoin-that’s enough to beat spot-ETF demand hands down. Plus, since Bitcoin’s supply ignores demand like a cat ignoring a laser pointer, price dynamics get wired directly to narrative and holder stubbornness.

The story also covers banks and stablecoins-those on-chain dollar translations of traditional short-term government debt. Yakes bemoans overprotective U.S. rules that keep stablecoins from paying interest (a polite way of saying “let’s keep banks cozy and sleepy”). Expect a bifurcation: onshore “tokenized deposits” cozy with banks, and offshore stablecoins racing for yield glory. Bitcoin’s claim to fame? It’s creeping into reserve baskets like a stealthy Trojan horse, promising “superior risk-adjusted collateral.” When regular folks notice their stablecoin is bugging the Bitcoin upside but paying them peanuts, that’s the moment to “flip the switch” and embrace native BTC like it’s the last slice of pizza at a party.

Yakes even talks about the dawn of a Bitcoin-native “term structure of interest rates” (try saying that five times fast), fueled by Lightning routing fees and liquidity leases. Early signals show predators-I mean, “large nodes”-enjoying better returns. The tale’s end? “The margins are better in Bitcoin,” and removing regulatory speed bumps like SAB 121 would turbocharge the migration.

What Could Go Wrong For Bitcoin?

Not one to dodge shark-infested waters, the interview tackles risks like Bitcoin getting shoved into a KYC-surveillance rigidity-turning into a neutered “store-of-value” under the watchful eyes of a few powerful custodians. Yakes admits the warning signs: ETF custody concentration is indeed “a real thing to monitor.” But, armed with game theory, he argues institutions face a prisoner’s dilemma. Spoiler: it’s usually more profitable to keep the network free and wild than to hog the keys and manacles.

He circles back to first principles: if permissionless global money is truly the crown jewel, the biggest profits reward those who keep it permissionless-not those who try to milk it dry like a cow with separation anxiety.

On the great debate of whether Bitcoin has to be spent like candy or just hoarded in sacred digital vaults, Yakes leans on the idea that money’s power arrives by being widely held. As coins scatter into the hands of the masses, usage follows like a loyal but slightly confused puppy. It’s a gentle revolution: sellers start demanding Bitcoin, usage sprouts, and soon everyone’s like, “Perhaps I should stash a little Bitcoin in my digital sock drawer.” Then comes the inevitable economic tango-people hoard the hard money and spend the wimpy stuff-until the harder currency becomes the new king of the cash castle.

His $10 million crystal ball isn’t about one magical trigger but a symphony of compounding changes: portfolio shifts, corporate buy-in, stablecoin maturation, and geopolitical nudges toward neutrality and portability. The clock is ticking boldly. The mechanism? Simple: fixed supply, rising legitimacy, and a movement stubborn enough to not just fade away like your favorite band’s latest album.

“Everything’s in our favor and nothing’s going to stop this,” he said, with the confidence of a man who has clearly not checked his Wi-Fi connection recently. “Bitcoin could easily hit $10 million within the next 10 years. If I had to bet, it’d be probably like seven years. Fasten your seatbelts; it might get bumpy.”

At press time, Bitcoin traded at $115,062. Which, to put it mildly, is still just the opening act.

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2025-09-12 16:52