Visionary Forecast for Bitcoin's Future Growth

Prominent Bitcoin advocate Brad Mills has projected a potential 100-fold increase in BTC's value over the next 10-20 years. This bold prediction comes as institutional adoption reaches unprecedented levels, with MicroStrategy's treasury holdings now exceeding 592,100 BTC. ——The market is entering what Mills terms the "Saylor Cycle"——, named after MicroStrategy CEO Michael Saylor's influential accumulation strategy.

Drivers of the Projected Growth

Three key factors underpin this optimistic forecast:
• 【Supply constraints】 from Bitcoin's programmed halving events
• Expanding institutional participation
• Emerging retail-focused technologies like Lightning Network payments

Square plans to implement Lightning Network solutions by 2026, potentially reducing merchant fees by 50%. Meanwhile, privacy-focused solutions like CashuBTC are making Bitcoin more accessible to small-scale savers. Interestingly, these developments coincide with Bitcoin's transition from what Mills calls an "illegitimate asset" to a "must-own" strategic reserve.

Institutional Adoption Reaches New Heights

The landscape has shifted dramatically since 2021's bull run. Not only corporate treasuries but now national governments are accumulating BTC. El Salvador maintains 6,209 BTC in reserves, while the U.S. recently established a Strategic Bitcoin Reserve holding 200,000 BTC seized from criminal cases. Remarkably, this policy shift suggests governments may hold rather than sell their Bitcoin assets long-term.

Diverging Views on Market Trajectory

While Mills anticipates steady growth with milder 50% corrections, Blockstream CEO Adam Back suggests Bitcoin might experience a "parabolic breakout" beyond traditional cycle patterns. This challenges conventional valuation models like Stock-to-Flow, proposing Bitcoin could enter uncharted price discovery territory.

Contrasting these bullish outlooks, veteran trader Peter Brandt has speculated about a potential 75% crash. However, analysts note today's market differs fundamentally from 2021, with institutional participation providing stronger support levels.

The Macroeconomic Context

The establishment of national Bitcoin reserves represents a potential game-changer. Senator Cynthia Lummis's Bitcoin Reserve Act, backed by a 2025 executive order, authorizes budget-neutral expansion methods including asset swaps and sovereign mining. ——This policy innovation could gradually reduce Bitcoin's correlation with traditional market cycles——, according to industry observers.

As Bitcoin's narrative evolves from speculative asset to institutional reserve, its market dynamics continue transforming. While the 100X projection remains speculative, the convergence of technological development, corporate adoption, and government policy creates an unprecedented foundation for potential growth.