Bitcoin (CRYPTO: BTC) could reach $300,000 to $400,000 by 2030, but a $1 million price target is unrealistic as it would require an enormous influx of capital to reach that milestone, according to Dragonfly Capital managing partner Haseeb Qureshi.
“Almost certainly not,” he said when asked whether Bitcoin could reach that level.
Speaking on Cointelegraph’s Trade Secrets, Qureshi said macroeconomic uncertainty, stablecoins and the selloff in AI stocks are currently driving cryptocurrency prices.
Qureshi also questioned expectations of Bitcoin reaching $100,000 by the end of 2026, arguing that a roughly 30% rally would be difficult in the current macroeconomic environment.
Qureshi pointed out that Bitcoin, Ethereum (CRYPTO: ETH) and stablecoins already enjoy broad U.S. regulatory acceptance, while the stalled Clarity Act primarily affects altcoins, DeFi and exchanges.
Why Is AI’s Selloff Hurting Bitcoin?
Qureshi attributed Bitcoin’s weakness to broader market losses, with the Nasdaq falling over 5% and several AI stocks dropping 15%–20%.
He warned that restrictions on data center construction could slow AI spending and economic growth.
“Crypto is not the main story this year for financial markets. Crypto is downstream of these other stories,” he said.
Qureshi expects Bitcoin to remain volatile until AI investment and economic conditions stabilize.
Could Bitcoin Eventually Replace Gold?
Qureshi believes Bitcoin could challenge gold over the next 15–20 years, citing its fixed 21 million supply compared with gold’s potentially expandable supply.
He warned that advances in AI and cryptography could pose security risks, even as Bitcoin’s scarcity and growing adoption support its long-term outlook.
