Bitfury executive George Kikvadze reaffirmed his long-term bullish outlook on Bitcoin (CRYPTO: BTC), predicting the world’s largest cryptocurrency can eventually reach $1 million.
What Happened: In a CNBC interview on Friday, Kikvadze cited growing government spending concerns and rising institutional adoption as catalysts for Bitcoin’s surge.
Having entered Bitcoin at roughly $20, he has consistently advocated buying across a wide range, from $20 to $120,000, citing BTC's scarcity and long-term value.
He predicts Bitcoin could reach $1 million and ultimately $10 million, emphasizing that timing is secondary to holding the asset.
Reflecting on Bitfury's history, Kikvadze shared that their 2014 mining chip helped mine nearly a million bitcoins, marking a significant milestone.
He noted that mining today has become far more capital-intensive, requiring large-scale investments in data centers.
Also Read: Bitcoin’s $125,000 All-Time High Proves This Pattern You Should Keep Watching, Analyst Says
Why It Matters: Kikvadze sees Bitcoin's growth as proof of its original thesis: a hedge against fiscal irresponsibility and central bank money printing.
Unlike fiat systems, Bitcoin operates continuously, even during government shutdowns, while global debt and quantitative easing have surged since 2014.
Institutional adoption has further boosted BTC's price, with spot ETFs by BlackRock and Fidelity improving mainstream access.
Kikvadze cited Paul Tudor Jones' public endorsement as a catalyst for institutional interest, helping establish a favorable environment for long-term growth.
What's Next: Kikvadze highlighted October's historically bullish seasonality and expects Bitcoin to benefit from potential rate cuts amid an economic slowdown.
Despite short-term volatility, he remains confident in Bitcoin as "digital gold," anti-inflationary, and resilient against centralized government spending, reinforcing his multi-million-dollar long-term targets.
Read Next:
Image: Shutterstock
