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Bitcoin to hit $1 million by 2027 using new adoption pricing model

Bitcoin modeled as a resource with fixed supply cap, raising potential for rapid price escalation amid growing demand and strategic reserves.

CryptoSlate

Dec 18

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Happy Wednesday!

Exciting developments are shaping the future of Bitcoin and the broader cryptocurrency landscape. A new adoption pricing model suggests that Bitcoin could soar to $1 million by 2027, driven by its fixed supply and increasing demand. Meanwhile, the Satoshi Action Fund has revealed a draft for a potential executive order to establish a U.S. Bitcoin Strategic Reserve, utilizing seized Bitcoin as a foundation. In other news, BlackRock’s IBIT has emerged as the decade's top ETF for inflows, surpassing its competitors with over $36 billion in net flows. Additionally, Charles Hoskinson is advocating for the Cardano Foundation to relocate from Switzerland to more community-driven governance models in jurisdictions like Abu Dhabi and Wyoming. Stay tuned as these stories unfold!

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The global crypto market cap is $3.64 trillion, with a 24-hour volume of $191.39 billion. The price of Bitcoin is $103,730.99, and BTC market dominance is 56.6%. The price of Ethereum is $3,863.71, and ETH market dominance is 12.8%. The best-performing sector is Cybersecurity, which gained 4%. The Crypto Fear & Greed Index is currently Greed (81).