Bitcoin at 1 million sounds extreme… until you look at the numbers.
The actual supply of BTC is much lower than it seems:
millions lost
illiquid millions
strong long-term accumulation
Bitcoin does not need to replace the entire system.
It only needs to capture a small fraction of:
gold
bonds as reserve
defensive institutional capital
If Bitcoin consolidates as:
digital reserve
collateral neutral
strategic asset
👉 1.000.000 USD is a logical monetary repricing.
It's not euphoria.
It scales.
