- Institutional inflows into spot Bitcoin ETFs have surpassed $57B, indicating sustained long term accumulation.
- Pavel Durov says early Bitcoin purchases at $700 helped fund his ventures as prices later surged.
- Analysts expect sovereign adoption to increase as exchange balances hit seven year lows.
Bitcoin’s momentum has cooled after its recent rally, yet high- profile figures are doubling down on extreme long term targets. The cryptocurrency is sitting below its year to date peak of $124,200. However, several industry figures maintain that Bitcoin could eventually climb far beyond current levels.
Telegram founder Pavel Durov is among the most vocal, stating in a recent interview that he expects the asset to reach $1 million. That projection aligns with earlier statements from Michael Saylor, Cathie Wood, Chamath Palihapitiya, and even Eric Trump.
Institutional Demand and Money Printing
Durov explained that unchecked monetary expansion by global central banks will continue to erode the value of traditional currencies. He argued that Bitcoin’s fixed issuance makes it resistant to inflation driven dilution, unlike fiat assets.
Notably, spot Bitcoin exchange traded funds have already amassed over $57 billion in inflows, according to filings, indicating accelerating institutional demand. Those holdings include allocations from academic institutions such as Harvard and Brown.
Companies including BlackRock, Ark Invest, and Standard Chartered have also published price expectations above current levels.
Early Bitcoin Purchases
Durov disclosed that he purchased several thousand Bitcoin in 2013 at roughly $700 per coin. He told Lex Fridman’s podcast that the investment allowed him to “stay afloat,” noting that Telegram remains unprofitable.
Critics questioned his decision when prices dropped under $200 during the following downturn. However, he stated that he intended to hold regardless of short term swings, citing Bitcoin’s durability and resistance to seizure.
Sovereign Adoption and Supply Compression
While previous rallies depended on retail speculation, current demand comes from institutions. The next phase, according to several analysts, could involve sovereign entities diversifying away from U.S. dollars and gold.
That potential change would collide with tightening supply conditions. Exchange balances have trended lower for seven consecutive years, reducing circulating availability. Meanwhile, ongoing geopolitical tensions and escalating sovereign debt continue to draw attention to alternatives outside conventional financial models. Bitcoin’s finite supply schedule contrasts with expanding government liabilities, forming the basis of the $1 million predictions referenced by Durov and others.
