Bitcoin (BTC) may climb to $300,000-$400,000 by 2030, but a $1 million target is out of reach, according to Haseeb Qureshi, managing partner at crypto investment firm Dragonfly Capital. Asked whether the largest digital asset could hit seven figures, he replied: "Almost certainly not," saying such a level would demand an enormous inflow of capital.
Speaking on Cointelegraph's Trade Secrets program, Qureshi said macroeconomic uncertainty, stablecoins and the selloff in AI-related stocks are the forces currently setting cryptocurrency prices. He also cast doubt on hopes for Bitcoin at $100,000 by the end of 2026, arguing that a rally of roughly 30% would be hard to pull off in the present macro environment.
On regulation, the investor said Bitcoin, Ethereum (ETH) and stablecoins already have broad acceptance from U.S. authorities, while the stalled Clarity Act mainly touches altcoins, DeFi and exchanges.
Qureshi tied Bitcoin's softness to wider market losses, noting the Nasdaq has fallen more than 5% and several AI stocks have dropped 15% to 20%. He cautioned that limits on data center construction could curb AI spending and slow economic growth. "Crypto is not the main story this year for financial markets. Crypto is downstream of these other stories," he said. He expects Bitcoin to stay volatile until AI investment and economic conditions settle.
Over a longer horizon, Qureshi sees Bitcoin potentially challenging gold within 15 to 20 years, pointing to its fixed supply of 21 million coins versus gold's potentially expandable supply. He also flagged advances in AI and cryptography as possible security risks, even as scarcity and wider adoption underpin the long-term case.
