Bitwise CEO Hunter Horsley has made a bold claim: Bitcoin is on its way to $1,000,000. On February 17, 2025, Horsley took to X, arguing that Bitcoin’s mainstream adoption and institutional demand are accelerating faster than expected. His statements have sparked heated discussions, with both bullish supporters and skeptics weighing in.

2025: A Watershed Year for Bitcoin?

Mass adoption, institutional investment, and political shifts fuel BTC growth

Horsley expressed unprecedented optimism, claiming that 2025 will mark a “watershed year” for Bitcoin. His reasoning includes several major catalysts:

✅ Bitcoin ETFs fueling institutional demand – ETFs have solidified Bitcoin as a mainstream asset.
✅ Massive BTC purchases by governments and corporations – U.S. states and private institutions are adding Bitcoin to their balance sheets.
✅ A shifting regulatory landscape – A more crypto-friendly U.S. administration is fostering adoption.
✅ Geopolitical demand for Bitcoin – Nations like Russia and Argentina are increasingly relying on BTC for trade and financial resilience.

One of the most striking points is the rapid transformation of institutional sentiment. In 2017, BlackRock’s CEO Larry Fink dismissed Bitcoin as an “index of money laundering.” Fast forward to 2025, and BlackRock now holds the world’s largest Bitcoin ETF assets. Similar U-turns from Wall Street giants like Berkshire Hathaway and Fidelity highlight how traditional finance is embracing digital assets.

Institutional FOMO and the New Bitcoin Arms Race

U.S. states, corporations, and global players are accumulating BTC

Beyond ETFs, Horsley points to an ongoing Bitcoin accumulation race among institutions and governments. Notable trends include:

📌 U.S. state-backed Bitcoin reserves – 18 states have introduced bills to hold BTC as a reserve asset, which could lead to state treasuries accumulating 250,000+ BTC.
📌 Corporate Bitcoin holdings – Companies across tech, finance, and retail are adding BTC to their balance sheets.
📌 Global BTC adoption for trade – Russia is increasingly settling international trade in Bitcoin, bypassing Western sanctions.

The Bitcoin supply squeeze is also intensifying. The April 2024 halving reduced BTC mining rewards, limiting new supply right as demand surged from institutions. This supply-demand imbalance, according to Horsley, could be a major driver of Bitcoin’s future price explosion.

What Could Stop Bitcoin from Reaching $1,000,000?

Potential risks and roadblocks to Bitcoin’s bullish trajectory

Rather than just promoting his bullish thesis, Horsley challenged his followers to list counterarguments—creating a discussion on the risks facing Bitcoin. Some of the most notable concerns include:

🔴 Quantum Computing Threat – Future advancements in quantum technology could potentially break Bitcoin’s cryptographic security. However, no immediate risk has been proven.
🔴 Scalability Issues – Bitcoin’s transaction speed and fees remain barriers to mass adoption. Some argue wrapped BTC and ETFs could help mitigate this.
🔴 Lack of Everyday Use Cases – Many still see Bitcoin as digital gold, rather than a functional currency for daily transactions.
🔴 Regulatory Uncertainty – While regulations have become friendlier, unexpected policy shifts could slow down adoption.
🔴 Deflationary U.S. Dollar Theory – Some humorously suggested that if Trump and Elon Musk made the U.S. dollar deflationary, BTC demand might drop.

Despite these concerns, Horsley remains confident that Bitcoin is on an inevitable path to mass adoption. He’s not alone—other experts like Brian Armstrong, Robert Kiyosaki, and Daniel Roberts have also forecasted Bitcoin reaching $1,000,000 within the next decade.

What Could Stop Bitcoin from Reaching $1,000,000?

Potential risks and roadblocks to Bitcoin’s bullish trajectory

Rather than just promoting his bullish thesis, Horsley challenged his followers to list counterarguments—creating a discussion on the risks facing Bitcoin. Some of the most notable concerns include:

🔴 Quantum Computing Threat – Future advancements in quantum technology could potentially break Bitcoin’s cryptographic security. However, no immediate risk has been proven.
🔴 Scalability Issues – Bitcoin’s transaction speed and fees remain barriers to mass adoption. Some argue wrapped BTC and ETFs could help mitigate this.
🔴 Lack of Everyday Use Cases – Many still see Bitcoin as digital gold, rather than a functional currency for daily transactions.
🔴 Regulatory Uncertainty – While regulations have become friendlier, unexpected policy shifts could slow down adoption.
🔴 Deflationary U.S. Dollar Theory – Some humorously suggested that if Trump and Elon Musk made the U.S. dollar deflationary, BTC demand might drop.

Despite these concerns, Horsley remains confident that Bitcoin is on an inevitable path to mass adoption. He’s not alone—other experts like Brian Armstrong, Robert Kiyosaki, and Daniel Roberts have also forecasted Bitcoin reaching $1,000,000 within the next decade.